Bilyonaryo Dennis Uy has joined his directors and top executives in taking profits from Dito CME Holdings which has been on a bull run in recent days.
The DITO chairman sold 1 million shares of the third telco at P18 each on February 16.
On the same day, DITO independent director Greg Yu sold three million shares at a price range of P17.50 to P18. Yu also sold P1 million worth of shares on February 15.
DITO reached a 52-week high of P18.20 on February 22 after starting the month at P12.10 each.
The sale is just a drop in the bucket of Uy’s stake DITO which stood at P11.23 billion or 22 percent of the company.
DITO’s top executives – president Ernesto Alberto and CFO Joseph John Ong – have also taken advantage of the stock’s breathtaking run in the past few days.
The third telco, a partnership between Uy and China Telecom, is scheduled to launch next month.