The Gos acquired a total of 619.932 million CEI shares at between 11.8 and 12 centavos per share for a combined value of P73.431 million on July 21, 2020.
The acquisition raised the Gos’ personal stake to 770.578 million or 5.15 percent of CEI. This is than five times their initial holdings of 150.645 million.
The Gos said they were taking advantage of the buying opportunity to buy CEI because it was a “solid investment” given its “competitive project portfolio.” CEI is currently trading at a four-year low at 12 centavos per share as of July 28.
CEI projects include Palma Real Residential estates in Laguna; Cypress Towers in Taguig; and Fortmed Medical Clinics in Makati and Laguna.
George is the former president of Equitable-PCI Banking Group before it was absorbed by BDO in 2007.