Major Apollo Global investor cuts stake by nearly half in May

Apollo Global Capital’s (APL) second biggest shareholder has dumped P15 million worth of shares last month.

Businessman Daniel C. Go sold 533.7 million shares at 2.8 centavos on May 19.

The disposition reduced Go’s interest from 13.8 percent to 7.3 percent worth P575 million.

Go had previously sold 5.35 billion shares worth P182 million in January this year.

Go is now the third biggest shareholder in the seabed mining flop after Napoleon M De Leon Jr. (15.8 percent) and Hyung Rae Doo with 12.3 percent.