While investors are wary there will be more pain than gain for the time being, siblings Jorge Consunji and Maria Christina Consunji Gotianun saw an attractive opportunity to buy more shares of DMCI Holdings Inc.
DMCI, a strategic investor at Maynilad Water Services Inc., saw its shares tumble as water concession contracts with the government came under fire from President Duterte.
Filings with the stock exchange showed Consunji-Gotianun gobbling up 1.875 million shares, effectively raising her indirect holdings to 109.27 million DMCI shares.
Consunji-Gotianun bought 350,000 shares on Dec. 11 at a price ranging from P5.20 to P5.90 apiece. She purchased another 1.525 million shares on Dec. 19 at an average of P6.2178 per share.
Her brother, Jorge acquired 900,000 shares from the open market at a price ranging from P5.30 to P5.68 each share with the purchase, he now holds a total of
4.74 million shares of DMCI.
Another family member, Luz Consuelo Consunji bought 40,000 shares at P6.24 per share.
All three are directors of DMCI, which has interests in general construction, coal and nickel mining, power generation, real estate development and water.
As of Friday, DMCI closed at P6.38 per share, 1.38 percent lower than Thursday’s closing price.