MerryMart Consumer Corp. is set to be delisted from the Philippine Stock Exchange after majority shareholder Manila Bulletin reported that DoubleDragon Properties Corp. has accumulated 99% of the retailer’s outstanding shares. The acquisition triggers a mandatory tender offer and subsequent voluntary delisting under exchange rules.
DoubleDragon, led by tycoons Edgar Sia II and Tony Tan Caktiong, initially launched a tender offer in 2024 to acquire all MerryMart shares at PHP 1.05 per share. With the ownership threshold exceeded, MerryMart will cease trading on the local bourse, consolidating its retail operations under DoubleDragon’s broader portfolio of commercial properties and grocery chains.
The delisting marks the end of MerryMart’s short public listing, having debuted on the PSE in 2020. The company operates a chain of grocery and convenience stores across the Philippines, and its exit from the exchange reflects a growing trend of consolidation among local retail players amid changing market conditions.