Ricky Razon gobbles up huge chunk of ICT shares after port’s stock sinks to 52-week low

International Container Terminal Services Inc. (ICT) of ultra bilyonaryo Enrique “Ricky” K. Razon Jr. spent over a half a billion pesos to buy back its slumping stock.

ICT went on a shopping spree on September 30 and October 3 by buying a total of 3.6 million shares at a price range of P155.90 to P164.20.

Fears of a global recession and its impact on trade have pummeled ICT to a 52-week low of P152.80.

ICT has so far acquired a total of P6.745 billion shares since 2015. It has filled up 63.5 million shares of the 110 million shares target for its buy-back program.