Property

Eduardo Ang raises P40M after unloading Primex shares at bargain price

One of the Ang brothers controlling property developer Primex Corp. has sold a big chunk of his shares at bargain basement prices.

Primex director Eduardo Ang sold a total of 30 million shares at P1.33 each on August 3.

The shares were sold at between P1.33 and P1.34, Primex lowest for more than five years (it peaked at P7.20 in November 2017).

The sale reduced the 74-year old bilyonaryo’s stake in the company to roughly eight percent from 10 percent.

The five Ang brothers control 70 percent of Primex which is building 50-storey skyscraper along EDSA.

His brothers are Primex chair and president Ernesto Ang (27 percent), Emilio (10 percent), Edgard (12 percent), and Ericsson (12 percent).

The Ang brothers also have interests in lumber and fish farms.

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