Bilyonaryo Injap Sia and his family can start trading their 70 percent stake in MerryMart Consumer (MM) on Wednesday, June 16.
Sia’s Injap Investments was required to lock up for one year six billion shares of MM as part of the escrow agreement for the grocery
chain’s initial public offering (IPO) in 2020.
The 365-day lock-up period will expire on June 15.
“In view thereof, the 6 billion MM common shares that were held in escrow will be eligible for trading starting on Wednesday, June 16,
2021,” said PNB Capital & Investment Corp, MM IPO underwriter.
MM offered 1.59 billion shares at P1 per share in its IPO last year.
Injap Investments’ stake in MM is currently valued at P27 billion from an initial investment of P300 million.