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Greg Yu unloads P35M DITO shares in selling spree before New Year

Bilyonaryo Greg Yu went on a selling spree of DITO Telecommunity shares during the last two trading days of 2020.

The chairman of Auto Nation Group, local distributor of Mercedes Benz, raised P35 million with the sale of 3.5 million shares of DITO from December 28 to 29, 2020.

Yu sold the shares at a range of P9 to P11 each. Dennis Uy’s telecom stock is one of the hottest stocks of 2020 with a 181 percent gain.

READ: 10 hottest stocks of 2020: Injap, JAZA, Frank Lao, Dennis Uy make it rain during time of corona

The company director has been shedding his stake in DITO as Uy changed the stock’s name from ISM Communications and folded in the third telco player’s assets.

Yu’s DITO stake has been slashed by a third from 49.2 million as of January 2020 to 33 million shares (P405 million at current market prices).

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