GT Capital chairman Francis Sebastian loads up stake in Ty-blings’ holding firm

Investment banker Francisco Sebastian has shored up his stake in GT Capital Holdings (GTCAP), just months after being named its chairman.

Sebastian bought a total of 30,000 GTCAP shares on July 15 and 28 and August 1 at a price range of P430 to P460.

GTCAP has slipped to P422 last month, its lowest since November 2020.

Sebastian now has P173,80 GTCAP shares worth P78 million sine he was promoted in May 2022 from vice chairman which he held since 2016.

Philippines sustains growth but inflation a threat

The Philippines’ economic growth slowed in the second quarter, officials said Tuesday, as they warned that surging inflation and the coronavirus pandemic would weigh on the outlook for the rest of the year.