Headlines Power

Mikel Aboitiz gobbles up P100M AP shares in bearish market

Bilyonaryo Mikel Aboitiz has acquired a P100 million worth of shares of Aboitiz Power which has been losing its juice in the market downtrend.

The vice chairman and director bought a total of four million shares at a price range of P24.70 to P25 from March 15 to 18.

AP closed at P23.95 on March 22, down by 21 percent from its 52-week high of P30.35 in June 2020.

AP profits plunged by 25 percent to P12.5 billion due to weak power demand brought about by the pandemic.

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