An affiliate of Primex Corp. (PRMX), which is bulding a skyscraper along EDSA-Greenhills, has disposed a big chunk of shares over the last 30 days.
Primex fails to take control of property-rich affiliate as Ang brothers
Primex Development Corp. (PDC) sold a total of 19.93 million shares from June 13 to July at a price range of P1.90 to 2.16.
PDC shaved off a percentage point of its stake in PRMX to 25.67 percent worth P1.15 billion.
Primex director Eduardo Ang passes away
PRMX aborted its plan to take over PDC – a debt-free firm which has massive land banks in Naic, Cavite, Quezon City and Mandaluyong “that were purchased a long time ago and booked at original purchase price” – due to disgreement between the Ang siblings who own the two firms.
