JG Summit Holdings Inc. chairman James L. Go continued to sell down his stake in the power utility giant, selling 92,030 more shares in Manila Electric Co.
In a regulatory filing, Meralco said Go, one of its directors, unloaded the shares on Dec. 12-14 at a price ranging from P382.39 to P383.65 apiece.
Go, who started divesting Meralco shares last month, is now left with 5,110 shares after the latest sale. At the close on Thursday, Meralco was valued at P390 each share.
He had already sold 490,190 Meralco shares, raising close to P190 million.
JG Summit acquired ownership of Meralco after buying San Miguel Corp.’s stake in the power utility firm in 2013, marking its entry into the power sector.
