Ayala legal chief Solomon Hermosura cuts IMI stake by more than half | Bilyonaryo Business News
Technology

Ayala legal chief Solomon Hermosura cuts IMI stake by more than half

Ayala Corp. managing director and general counsel Solomon Hermosura lightened up on his personal holdings in Integrated Microelectronics Inc.

Hermosura raised roughly P3.5 million from the sale of 356,900 shares of the Ayala-owned semiconductor firm at a price range of P9.44 to P11.02 from April 21 to May 11.

The stock sale reduced the San Beda Law graduate’s personal stake in IMI by 58 percent to 263,115 shares worth P2.4 million.

IMI has plunged 42 percent since hitting a 52-week high of P14.96 on February 19 amid the worsening semiconductor supply crisis.

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