Bilyonaryo Macario Te has sold a substantial chunk of his holdings in Bright Kindle Resources and Investments (BKR).
The BKR director sold 16 million shares for P1.21 each on February 22.
Te, an influential member of the country’s most prestigious club, Manila Golf, has 35 million shares or P71.4 million worth of BKR shares left in his portfolio.
BKR is a holding firm with a 20 percent stake in mining firm Marcventures. It is owned by the family of Majority Leader Ferdinand Martin Romualdez. The firm’s stock symbol stands for Romualdez’s late father, Benjamin “Kokoy”, Romualdez, the sister of former First Lady Imelda Marcos.