Robina Gokongwei allocates another P1B for buyback of Robinsons Retail shares a day before PSE index exit

Robina Gokongwei allocates another P1B for buyback of Robinsons Retail shares a day before PSE index exit

Robinsons Retail Holdings Inc. (RRHI) led by ultra bilyonaryo Robina Gokongwei-Pehas increased its shares buyback program a day before the stock’s exit from the Philippine Stock Exchange main index.

The RRHI board approved on February 11 the extension of its buyback program with an additional P1 billion funding

PSEI on the next trading day, February 14.

RRHI has dropped by 1.4 percent to P57.20 since the PSE announced the stock’s farewell from the index on February 14.

RRHI started its buyback program with an initial P2 billion fund in March 2020. It increased its buyback budget by another P2 billion in February 2021.

As of February 2022, RRHI has spent P3.898 billion of its buyback budget with a total of 69.414 million shares acquired at an average price of P56.16.

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