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Manila Bulletin devider Business devider The Stock Market devider Injap Sia buys more DoubleDragon shares after price pullback

Injap Sia buys more DoubleDragon shares after price pullback

Published Jul 3, 2026 11:24 am

DoubleDragon Corp. Chairman and Chief Executive Officer (CEO) Edgar “Injap” Sia II has increased his stake in the company by buying more shares from the market after the stock price corrected from its one-year high of ₱12.90 per share reached on June 19.

The firm informed the Philippine Stock Exchange (PSE) on Friday, July 3, that Sia purchased a total of 973,500 DD common shares with an aggregate value of ₱10.49 million over two days of buying last week.

He bought a total of 574,500 DD common shares on June 25, 2026, at an average price of ₱10.4738 per share, with a total value of ₱6.02 million. He also acquired a total of 399,000 DD common shares on June 26, 2026, at an average price of ₱11.2216 per share, with a total value of ₱4.48 million.

These latest purchases increased Sia’s direct stake in DoubleDragon to 14.13 million shares. Sia also controls Injap Investments Inc., which now owns 893.6 million DD shares.

Injap Investments recently received 68.6 million DD shares as part of the ₱1.28-billion transaction for DoubleDragon to acquire Sia’s stake in MerryMart Consumer Corp., which was priced at ₱9.30 per DD share.

Grocery retail chain owner MerryMart reported that DoubleDragon has mopped up almost 99 percent of MM shares through its tender offer to pave the way for its delisting.

“DD’s acquisition of MM or Project Solidify as we internally call this transaction, is intended to enable the MM shareholders to stay as DD shareholder with good exchange valuation of ₱9.30 of each DD share,” said Sia, who is also chairman of MM.

DoubleDragon recently launched a ₱758-million mandatory tender offer for the minority shares of MM consisting of 1.58 billion MerryMart shares, equivalent to its public float of 20.79 percent of its outstanding capital of 7.59 billion shares.

He noted that MM’s becoming part of the ecosystem of DD after the tender offer will help the group streamline operations, gain cost effectiveness, and realize other advantages of being part of the bigger group.

Since the tender offer will pay for MM shares in the form of 50-percent cash and 50-percent DoubleDragon shares, it is intended to give current MM shareholders the opportunity to become part of the combined DoubleDragon Group.

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Edgar Sia II DoubleDragon Corporation MerryMart Consumer Corp.
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