Wednesday 22 May
Dec 4, 2018 @ 18:07

James Go sells down Meralco stake

 

JG Summit Holdings Inc. chairman James L. Go raised P124.3 million from the sale of more than two-thirds of his stake in Manila Electric Corp. (Meralco).

Documents filed with the stock exchange showed Go, a director of Meralco, divested a total of 320,840 shares in the country’s largest power distributor from Nov. 26-29 and Dec.3 at prices ranging from P386 to P389.23 each share.

He is now left with 174,460 shares following the sale transactions.

JG Summit first acquired ownership in Meralco after buying San Miguel Corp.’s stake in the power utility firm in 2013. This marked the Gokongwei family’s entry into the lucrative power sector.

Meralco closed unchanged at P388 each share Tuesday.

Please follow and like us:
error

Tags: , , , , ,

Related Stories
San Miguel Corp. doesn’t want a repeat of the Metro Manila water crisis.
San Miguel Corp. has accused the Power Sector Assets and Liabilities Management Corp. for spreading
Six Philippine corporations maintained their strong presence in the Forbes Global 2000, an international ranking
San Miguel Corp. has inked a deal to acquire an 85.7% stake in Holcim Philippines


 

Trending News

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.