Property

Sid Consunji triples DMCI stake since Duterte’s rants on Davao condo collapse

Bilyonaryo Sid Consunji has has jacked up his personal stake in his family’s diversified holding firm over the last six months.

Based on regulatory disclosures, the 71-year old tycoon raised his shares in DMCI Holdings Inc. to 69.959 million shares or .53 percent of the company as of June 30, 2020.

This is 215 percent more than the 22.168 million shares (.17 percent) he owned as of December 31, 2019.

Consunji spent over P200 million in acquiring a total of 47.8 million DMCI shares at between P4 to P6.85 from January to June this year.

Consunji started his buying spree when DMCI’s started tanking in early January after shares hit a 2020 peak of P7.07.

This coincided with President Rodrigo Duterte’s public rants against DMCI for failing to address the concerns of resident-owners of the firms’ condominiums in Davao City that were damaged by a strong earthquake in October.

DMCI and the owners have since reached a compensation agreement with resident owners on the damages incurred in their units.

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