Shareholders of MerryMart Consumer Corp. have approved the voluntary delisting of the retailer from the Philippine Stock Exchange (PSE), according to a report by Philstar Biz.
The move is part of DoubleDragon Corp.'s plan to take the company private. MerryMart, a wholly owned subsidiary of DoubleDragon, operates a chain of grocery and retail stores across the Philippines.
Once delisted, MerryMart will no longer be publicly traded, and shareholders will receive a fair value for their shares as determined by an independent appraiser. The delisting is subject to PSE approval.