Bilyonaryo - Business

One of APL’s biggest owners dumps P182M shares as offshore mining stock sizzles

January 9, 2023

Bilyonaryo.com

The second biggest stockholder of Apollo Global Capital (APL) has unloaded a total of P182 million worth of shares in the offshore iron mining firm in Cagayan.

Daniel Chua Go sold a total of 5.35 billion APL shares at a price range of 3.2 to 3.6 centavos from January 3 to 6.

APL has jumped 18 percent to 3.9 centavos on January 9 since ending 2022 at 3.3 centavos.

Go’s holdings are down to 40.284 billion or 13.76 percent, the second biggest stockholder of APL.

Go, an associate of the late stock broker and miner Jerry Angping, is one of the owners of JVDC Corp. which took over APL (formerly Yehey!) in a P2.525 billion backdoor listing in 2017.

His co-investors in APL are Napoleon De Leon Jr. (15.79 percent) and former majority owner, Korean national Hyung Rae Doo (12.26 percent).

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