Bullish bros: Alvin, Vincent Lao accumulating D&L shares

Brothers Alvin and Vincent Lao have acquired a combined P47 million worth of shares in their family’s chemical firm, D&L Industries (DNL).

Alvin, DNL president and CEO, picked up 2.012 million DNL shares at P7.79 on September 7.

Alvin has jacked up his stake in DNL by 20 percent to 12.985 million shares since end-2021.

Vincent, managing director of DNL’s Oleo-Fats subsidiary, also bought 4.025 million DNL shares at P7.79 each on the same day.

Vincent raised his personal stake in the firm by 88 percent to P8.6 million shares from end-2021.

DNL’s parent, Jadel Holdings, has been aggressively buying more shares of the company over the last eight months.

Jadel has bought a total of 57 million shares since December 31 to increase its holdings to 4.403 billion worth P33.7 billion in the market.

DNL has dropped 11 percent to P7.66 since the start of 2022.