The nephew of Bobby Ongpin pounced on the sizzling rise in shares of DITO CME Holdings Corp. of Davao-based businessman Dannis Uy.
DITO CME director Eric Recto netted roughly P42 million from the sale of seven million DITO shares from October 1 to 5. Recto unloaded at between P5.35 and P6.68 per share.
DITO shares jumped 40 percent to P6.81 in the first six days of October. The stock, however, has cooled down to P5.77 on Wednesday, October 7.
RELATED STORY: Bobby Ongpin nephew offloads P132-Million DITO CME shares
In mid-September, Recto sold P132 million worth of DITO shares at between P3.59 and P4.12.
Recto’s stake, through Monfortino Holdings, has dropped to 53.89 million shares or 1.94 following his October divestment.
Source: Bilyonaryo.com.ph
Source: Peso Economics
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