Bilyonaryo Henry “Big Boy” Sy Jr. lightened up his stake in SM Prime Holdings (SMPH) last month, during the subscription period for the P13.8 billion follow-on offering (FOO) of his Synergy Grid & Development Phils. (SGP).

READ : Big Boy Sy sells P71M SM Prime shares, personal stake down by nearly a third since end-2020

Sy sold 14.2 million SMPH shares at P35 each on October 27. The sale reduced Sy’s stake in SMPH to P16.8 billion worth or 1.61 percent.

READ : Big Boy Sy’s direct stake in SM Prime down by 20% in last 3 months

SGP took orders for its FOO from October 26 to November 2. The listing date is on November 10.

READ : Big Boy Sy sells P754M SM Prime shares

Sy owns 49.94 percent of SGP with partner Robert Coyiuto holding 49.81 percent. The FOO will increase SGP’s public float and enable the company, which controls 60 percent of National Grid Corp. of the Philippines.

READ : Big Boy Sy slashes SM Prime shares by P2B in May

The post Big Boy Sy unloads P500M SM Prime shares during Synergy Grid’s offering period first appeared on Bilyonaryo Business News.



Big Boy Sy unloads P500M SM Prime shares during Synergy Grid’s offering period
Source: Filipino Daily Inquirer