Boulevard Holdings Inc. (BHI) rocked the stock market charts on Wednesday (My 18) amid rumors that owner Jocel Panlilio was close to striking a deal with ultra bilyonaryo Ricky Razon.
BHI jumped 27 percent to 10.3 centavos on total turnover of P43 million.
Market players are speculating that BHI owner Jocel Panlilio has already put pen on paper on BHI’s plan to tie up with Razon’s plan to build a Hawaii-inspired resort in Cavite, near the hotel and resort operator’s 106-hectare Puerto Azul property.
Panlilio disclosed last year that BHI’s board agreed to contribute 57 hectares of Puerto Azul to an investment consortium led by Razon.
“The project is now under inspection, due diligence for eventual closing, by private majority partner Mr. Enrique K. Razon,” said BHI in a disclosure in June 2021.
Razon has neither confirmed or denied BHI’s disclosure last year.