Panlilio family trims stake in Boulevard Holdings
The family of businessman Jose Marcel Panlilio sold 3.5 million of its shares in Boulevard Holdings Inc., the developer of the Puerto Azul resort complex.
In a filing with the Philippine Stock Exchange, BHI said Panlilio, its chairman and president, disposed off the shares at P0.71 apiece on Oct. 23, bringing the group’s total shareholdings to 43.38 percent of the company.
BHI has for years been hobbled by liquidity problems that have delayed the completion of its beach resort projects.
It has investments in Friday’s Holdings Inc., owner of Firday’s Boracay Island beach resort, Friday’s Puerto Galera, and Crown One Land.