Bright Kindle president sells over 500,000 shares
Bright Kindle Resources & Investments Inc. said its president Isidro Alcantara sold a total of 518,000 shares last week for a little over P1 million.
In a filing with the stock exchange, Bright Kindle said Alcantara unloaded the shares on Aug. 7 at a price ranging from P2 to P2.09 apiece.
Alcantara took advantage of the sharp rise in the company’s share price following the arrest of Japanese billionaire Kazuo Okada in Hong Kong.
With the divestment, Alcantara’s stake in Bright Kindle has been reduced to 2.87 percent equivalent to 43.919 million indirect shares and 1,000 direct shares.
Shares of BKR shot up as high as P2.22 on Aug.7 as the arrest of Okada did not prevent punters from speculating.
BKR was earlier reported to be a backdoor listing target of integrated resort Okada Manila.