APL’s Korean owner dumps another P1.4B shares in April, cuts stake by more than half

Apollo Global Capital’s (APL) former biggest stockholder continues to divest heavily from the offshore mining company.
Korean businessman Hyung Rae Doo sold a total of 32 billion shares on April 1, 6 and 28 at a price range of 4.4 centavos to 4.7 centavos.
Kaya lumagapak! APL’s biggest stockholder dumps P2.2B shares in March
Hyung sold 41 billion shares worth P2.2 billion the previous month.
Hyung’s stake has dropped to 12.3 percent or 36 billion shares from 37 percent or 109 billion shares at the end of 2021.

OPM: Apollo Global commits to start offshore mining no later than May 30

He is now the fourth biggest stockholder in APL after Lloyd Reagan Taboso, Napoleon De Leon Jr. ad Daniel Chua Go who have 16 percent each as of March 2021.
AL had recently committed to finally start the deep sea mining of magnetite ore off the coast of Cagayan no later than May 30 or more than a year after deploying its vessel to its exploration area.

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