99% of MerryMart Shareholders Approve DoubleDragon Takeover at P9.30 Per Share
MerryMart shareholders approve DoubleDragon’s acquisition of the supermarket chain.
Close to 99% – or 98.61% – of MerryMart (MM) shareholders have opted to tender their holdings in exchange for a mix of cash and DoubleDragon (DD) stock, according to a company disclosure released on June 18, 2026.
The DD stocks shareholders are set to receive will be valued at P9.30 per share.
The development marks a step in MerryMart’s plans to delist from the Philippine Stock Exchange (PSE) to push through, which was first announced in an April 15, 2026 statement by DoubleDragon.
DoubleDragon founder Injap Sia said in a June 18 that the takeover will streamline operations and costs, as well as allow MerryMary to take advantage of being part of the DoubleDragon group of companies.
DoubleDragon operates global hotel chain Hotel101, retail chain CityMall, and warehouse network CentralHub. The corporation also owns properties such as the Jollibee Tower in the Ortigas Central Business District and DD Meridian Park in Pasay City.
“These advantages will make the whole DD Group gain a more efficient and optimized business ecosystem. The recalibration should strategically benefit both entities over the long run,” said Sia.
Sia Outlines DoubleDragon’s Near-Term Plans and 2035 Vision
The DoubleDragon founder shared his agenda for the upcoming days, which includes Hotel101-related business in Fuzhou, China, as well as his inspections of ongoing local projects in the corporation’s portfolio.
“I am all-in towards the 2035 set vision of the whole DoubleDragon Group,” Sia wrote.
“In the past years of my entrepreneurial journey, our team and I were able to deeply gain and learn multi-dimensional and complex business experiences that we believe are now sufficient to enable us to push forward towards DD’s 2035 Vision.”
On June 1, 2026, DoubleDragon announced in a press release the following long-term ambitions it aims to achieve by 2035:
- Exceed P500 billion pesos in global consolidated annual revenues and exceed P50 billion in net income level by 2035.
- Become fully nurtured to an optimal level, with its existing hard asset portfolio in Luzon, Visayas, and Mindanao, and complete its footprint in all 82 provinces in the Philippines by 2035, held directly or through its subsidiaries.
- Enable Hotel101 Global to have planted its footprint in 100 countries worldwide by 2035.
- Become a totally debt-free company by 2035.
- Generate annual cash dividends exceeding P12 billion annually by 2035.
Frequently Asked Questions
Close to 99% (98.61%) of MerryMart shareholders voted to tender their shares to DoubleDragon as part of a takeover offer, accepting a combination of cash and DoubleDragon stocks valued at P9.30 per share. The vote is a key step toward MerryMart‘s planned delisting from the Philippine Stock Exchange.
DoubleDragon founder Injap Sia stated the acquisition will streamline operations and costs, and allow MerryMart to leverage synergies within the DoubleDragon group — which includes Hotel101, CityMall, and CentralHub — to build a more efficient and optimized business ecosystem over the long term.
DoubleDragon’s 2035 vision targets exceeding P500 billion in annual global revenues, completing its provincial Philippine footprint across all 82 provinces, planting Hotel101 Global in 100 countries, achieving a fully debt-free balance sheet, and generating annual cash dividends exceeding P12 billion.
MerryMart’s delisting from the Philippine Stock Exchange follows the completion of DoubleDragon’s tender offer, which received about 99% shareholder approval in June 2026. The delisting plan was first announced in DoubleDragon’s April 15, 2026 disclosure, with the acquisition structured as a cash-and-stock tender.
DoubleDragon operates Hotel101, a global hotel chain; CityMall, a retail chain; and CentralHub, a warehouse network. The corporation also owns commercial properties, including Jollibee Tower in the Ortigas Central Business District and DD Meridian Park in Pasay City.
