RL COMMERCIAL REIT, INC. (RCR) has issued 3.83 billion shares to Robinsons Land Corp. (RLC) following the Securities and Exchange Commission’s (SEC) approval of their P30.67-billion property-for-share swap.
“Further to the disclosure dated Sept. 5, 2025, please be advised that 3,834,357,500 shares of RL Commercial REIT, Inc. were issued today in exchange for the following assets from Robinsons Land Corp. pursuant to the deed of assignment dated Aug. 13, 2025,” RCR told the stock exchange on Thursday.
Last month, RCR completed its fourth property-for-share swap with RLC through a deed of assignment for the infusion of nine mall assets.
The assets were exchanged for 3.83 billion primary common shares of RCR priced at P8 apiece.
The malls include Robinsons Dasmariñas in Cavite, Robinsons Starmills in Pampanga, Robinsons General Trias in Cavite, Robinsons Cybergate Cebu, Robinsons Tacloban in Leyte, Robinsons Malolos in Bulacan, Robinsons Santiago in Isabela, Robinsons Magnolia in Quezon City, and Robinsons Tuguegarao in Cagayan.
These properties have a combined gross leasable area (GLA) of 324,107.75 square meters (sq.m.).
The approval and issuance of new shares increased RCR’s issued and outstanding shares to 19.55 billion.
Public ownership is at 34.22% of the enlarged total, above the one-third minimum required under the Real Estate Investment Trust Implementing Rules and Regulations.
The infusion is expected to boost RCR’s portfolio, which currently consists of 828,000 sq.m. of GLA, including 12 mall assets with 289,000 sq.m. of GLA and 17 office assets with 539,000 sq.m. of GLA.
On Thursday, RLC shares slipped by 0.26% or four centavos to P15.52 apiece, while RCR shares fell by 0.24% or two centavos to P8.20 each. — Beatriz Marie D. Cruz
