ROBINSONS Land Corp. has authorized the sale of 945.946 million common shares in RL Commercial REIT Inc. (RCR) in a block sale transaction worth about P7 billion, based on a transaction price of P7.40 per share.
The transaction was completed before RCR’s inclusion in the 30-member Philippine Stock Exchange index (PSEi). On February 2, RCR will replace Alliance Global Group in the benchmark index as part of the exchange’s regular review.
Robinsons Land told the stock exchange on Tuesday that the board approved the sale of the placement shares to high-quality institutional local and international investors.
It said that with the placement, the public float of RCR has increased to about 8.64 billion common shares, or 44.18 percent, of the total issued and outstanding common shares.
Robinsons Land said that the placement shares were offered and sold in the Philippines under transactions exempt from registration under the Philippine Securities Regulation Code (SRC), as amended by the Securities and Exchange Commission’s (SEC) Memorandum Circular 6, series of 2021, and SEC Memorandum Circular 5, series of 2026.
The shares were also offered and sold outside the United States in compliance with Regulation S under the US Securities Act of 1933.
Robinsons Land said the placement shares would not be registered with the Philippine SEC or under the SRC, adding that any future resale in the Philippines would be subject to registration requirements unless the transaction qualifies as an exempt sale.
Proceeds from the block sale are expected to be settled on Jan. 29, 2026, under a secondary block trade agreement, with the company saying that a reinvestment plan detailing the use of the proceeds would be submitted to the bourse in due course.
Robinsons Land is one of the country’s largest property developers with interests in shopping malls, offices, residential developments, hotels and mixed-use estates.
RCR, as its listed real estate investment trust unit, holds and manages income-generating commercial properties for its sponsor.
On Tuesday, Robinsons Land shares slipped P0.10, or 0.54 percent, to close at P18.30 each, while those of RCR also dipped by 3.57 percent to P7.56 apiece, amid a 0.53 percent rise for the benchmark PSEi.
