The share price of Roxas and Company Inc. surged 17.44 percent Friday, as the company is set to receive nearly P9.6 billion worth of cash and bond as just compensation for 1,307 hectares of land in Nasugbu, Batangas.
The payment follows a decision by the Department of Agrarian Reform Adjudication Board (DARAB) dated March 25, 2025. The land was originally expropriated under the Comprehensive Agrarian Reform Law.
“Roxas and Company, Inc., after more than 30 years of what seemed to be an endless battle, will receive, pursuant to the Department of Agrarian Reform Adjudication Board’s decision dated March 25, 2025, the total amount of P9,591,209,432.98, in cash and in bonds, as payment of just compensation for the 1,307 hectares it owned and located in Nasugbu, Batangas,” the company said in a disclosure to the stock exchange Friday.
RCI said it would use the amount to fund its operations, working capital requirements, expansion of its projects and payment for its financial obligations.
“The said payment will also catalyze monetizing the estate and deleveraging, and invest in growth of business opportunities,” RCI said.
“More importantly, part of the just compensation will also be used for funding of projects that aims to give back to the local communities in Nasugbu, Batangas,” it said.
Aside from the P9.6-billion compensation, RCI, after more than 30 years of judicial hostilities, last year obtained ownership of 1,619 hectares of land.
RCI said it is drafting and finalizing its plans on how to maximize the value of the properties. These will include residential, commercial, industrial and tourism projects.
RCI’s stock gained P0.49 to close at P3.30 Friday. RCI is primarily engaged in real estate and sugar businesses.