Business

Gokongweis go different ways: Lance dumps P888.4M while Robina scoops up P116M RRHI shares

Bilyonaryo Lance Gokongwei has unloaded a big chunk of his personal holdings in Robinsons Retail Holdings Inc. (RRHI) last week.

Bilyonaryo Lance Gokongwei has unloaded a big chunk of his personal holdings in Robinsons Retail Holdings Inc. (RRHI) last week.

In contrast, his sister, Robina Gokongwei-Pe, went on a shopping binge of RRHI shares that have been on a steep slide in the last three months.

In a report to the Philippine Stock Exchange, company chairman Lance sold 15.586 million RRHI shares while president and CEO Gokongwei scooped up 2.046 million RRHI shares.

The shares were sold and bought at the same price (P57 per share) and on the same date (February 10).

Lance reduced his holdings by 14.5 percent while Robina increased her stake by two percent but they ended up holding the same number of shares at 91.953 million each.

RRHI has lost 17.4 percent since hitting P69 in November 2020. The stock had net foreign selling of P50.42 million on February 9, P119.46 million on February 10, and P124.31 million on February 11.

RRHI’s brands include Robinsons Department Store and Supermarket, Rustans Supercenters, Handyman True Value, Ministop, Toys “R” Us, Daiso Japan, Savers Appliances, South Star Drug and The Generics Pharmacy.

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