Food Headlines

Value investing: Jollibee’s single-biggest stockholder picks up roughly P250M worth of fastfood giant’s shares ahead of sizzling run

Jollibee Foods’ single biggest stockholder has scored a windfall after stockpiling a big chunk of the fastfood giant’s shares in the last 30 days.

Hyper Dynamic Corp., owned by the family of bilyonaryo Tony Tan Caktiong, accumulated 1.878 million Jollibee shares or nearly two percent of the company’s shares.

The Jollibee affiliate made dozens of transactions from September 15

to October 15, buying from a low of P130.80 to a high of P147 per share during the period.

Jollibee shares have surged 15 percent in the last two days from P147

to P169 , slightly higher that its price on March 12 when President Rodrigo Duterte announced the start of a Luzon-wide lockdown to contain the coronavirus.

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