Samel Aboitiz has eclipsed Union Bank of the Philippines president Edwin Bautista’s shareholdings in the country’s ninth largest lender.
The son of bilyonaryo Sabin Aboitiz and Bettina Araneta bought 383,000 UBP shares at P68.80 to P69 per share on September 11.
Since joining the board last year, Samel has jacked up his UBP interest by 255 percent to 1.464 million shares, bigger than Bautista’s 1.137 million stake.
UBP’s stock has so far lost 17 percent since January this year and is currently trading near its 52-week low.
