Bilyonaryo - Business

Perry Lato sells some WEB shares as Bobby Ongpin plots renaissance under Bongbong

Philweb (WEB) director Perry Weinne S. Lato continued to unload more shares in the e-game operator controlled by Marcos crony Bobby Ongpin.
RELATED STORY: Ka-ching! Philweb minority owner Perry Lato rides on Marcos’ landslide win to unload P9M WEB shares
Lato, owner of gaming machine supplier Palmary, sold a total of 349,000 WEB shares at a price range of P4.10 to P4.21 on June 2.
Lato has already sold a total of 3.2 million WEB shares since May 10 when President-elect Bongbong Marcos’ landslide victory has been confirmed by partial poll returns. He still has 4.7 percent interest in WEB currently worth P275 million.
WEB soared to a two-year high of P4.45 as investors wagered that Ongpin would come back with a bang under Bongbong’s administration after being banished during the six-year term of President Rodrigo Duterte who branded him an “oligarch.”