Two Consunji sisters have aggressively bought shares of the family’s coal power unit over the last three months.
Josefa Consuelo C. Reyes and Maria Cristina C. Gotianun bought a combined 4.183 million shares of Semirara Coal Corp. (SCC) from June 30 to September 15.
SCC director Reyes raised her stake by nearly half or 2.902 million shares to 8.989 million as of September 15.
SC president, COO and executive director Gotianun increased her holdings by six percent or 1.281 million to 21.779 million during the same period.
SCC shares increased by close to a third to P19.20 as of September 15 from 14.74 on June 30.
Coal prices have surged to a new high in 2021 recently due to high demand from China and analysts expect SCC to report solid results in the second half this year. SCC profits jumped 180 percent year on year to P6.28 billion in the first half of 2021.