Dennis Uy joins DITO selling binge, unloads P18M shares; Greg Yu sells P54M shares on same day
Business

Dennis Uy joins DITO selling binge, unloads P18M shares; Greg Yu sells P54M shares on same day

Bilyonaryo Dennis Uy has joined his directors and top executives in taking profits from Dito CME Holdings which has been on a bull run in recent days,

Bilyonaryo Dennis Uy has joined his directors and top executives in taking profits from Dito CME Holdings which has been on a bull run in recent days.

The DITO chairman sold 1 million shares of the third telco at P18 each on February 16.

On the same day, DITO independent director Greg Yu sold three million shares at a price range of P17.50 to P18. Yu also sold P1 million worth of shares on February 15.

DITO reached a 52-week high of P18.20 on February 22 after starting the month at P12.10 each.

The sale is just a drop in the bucket of Uy’s stake DITO which stood at P11.23 billion or 22 percent of the company.

DITO’s top executives – president Ernesto Alberto and CFO Joseph John Ong – have also taken advantage of the stock’s breathtaking run in the past few days.

The third telco, a partnership between Uy and China Telecom, is scheduled to launch next month.

 
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