Injap Sia, the founder of MerryMart (MM), recently sent a message to shareholders explaining why DoubleDragon (DD) is offering to buy MerryMart shares in what the company calls “Project Solidify.”
What’s Happening with MerryMart Shares?
Think of it like this: If you own MerryMart shares, DoubleDragon is giving you a chance to exchange them for a mix of cash and DoubleDragon shares. For reference, DoubleDragon shares are valued at ₱9.30 each in this deal.
According to Sia’s message, this tender offer (a fancy term for when one company offers to buy shares from another company’s shareholders) is happening during a tough time for the Philippine stock market. Many publicly-listed companies, even the big, well-known ones called “bluechip stocks,” have seen their share prices drop significantly.
Why Is DoubleDragon Doing This?
Sia explained that since MerryMart is already part of the DoubleDragon family of companies, bringing it closer together will help both companies work better. This means they can:
- Make operations smoother
- Cut costs more effectively
- Become stronger during economic problems
The founder described this as a “recalibration” that should help both companies in the long run.
DoubleDragon’s Stock Performance
As mentioned in the message, DoubleDragon started trading on the Philippine Stock Exchange 12 years ago in 2014 at ₱2 per share as a startup company. The stock was trading at ₱10.20 per share as of the date referenced in the message, which means it has grown 510% (or 5 times) from its initial listing price.
Big Dreams for 2035
Sia, who describes himself as a “probinsyano” (someone from the provinces), shared DoubleDragon Group’s ambitious goals for the year 2035. Here’s what the company wants to achieve:
- Make lots of money: Earn more than ₱500 billion pesos in total revenues worldwide and make over ₱50 billion in profit each year
- Cover all of the Philippines: Have a presence in all 82 provinces in the country through DoubleDragon and its subsidiaries (companies it owns) like MerryMart, CityMall, DDMPR, and CentralHub
- Go global with Hotel101: Expand their Hotel101 business to 100 countries around the world
- No more debt: Pay off all the company’s debts completely
- Share profits with stockholders: Give out more than ₱12 billion in cash dividends (money shared with stockholders) every year
About DoubleDragon’s Family of Companies
DoubleDragon Group includes several subsidiaries that shareholders who exchange their shares would become part of:
- MerryMart: A grocery and retail store chain
- CityMall: Community shopping centers
- DDMPR: DoubleDragon’s property development arm
- CentralHub: Warehouse and logistics facilities
- Hotel101: Their hotel business model they plan to bring worldwide
The message from Sia emphasized that these are the company’s goals and vision, and he’s taking them seriously as a Filipino entrepreneur. He invited MerryMart shareholders who decide to accept the tender offer to join DoubleDragon’s journey toward these 2035 targets.
Important Note: The press release includes a disclosure that these forward-looking statements are based on management assumptions and actual results may differ. This is standard language reminding investors that future plans don’t guarantee future results.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
