Delgados to trim stake in EasyCall, welcome new investors
The Delgado family is trimming its stake in Easycall Communications Philippines Inc. to meet the minimum public ownership (MPO) requirement of 20 percent.
“TDG Ventures, the majority shareholder of EasyCall has expressed intent to reduce some of its shareholders through the market in support of EasyCall’s compliance to the MPO that the Securities and Exchange Commission may impose,” the paging company-turned internet firm said in a regulatory filing.
EasyCall currently has a public float of 10.06 percent.
It was the second biggest stock gainer in 2017 with its shares surging by 504.6 percent. From only P18.50 at the end of the last trading day last year, EasyCall has skyrocketed to P59.95 last Tuesday.
To make its presence felt in the telco sector, EasyCall has ventured into satellite communications services to tap underserved and unserved provincial communities in Samar, Quezon, Iloilo, Bulacan, Nueva Ecija, Isabel, Leyte and Antique.