Walter Brown raises P240M from sale of Atok-Big Wedge shares

Bilyonaryo Walter Brown has shed some of his shares in Atok-Big Wedge, one of the oldest mineral exploration companies in the country.

Brown sold 73.5 million AB shares of AB at P4 per share on April 14. AB shares closed at P10.50 on that day.

READ: Walter Browns sells P29M shares in Ongpin’s Atok Big Wedge

Brown’s stake in AB, most of which are held through North Kitangland Agricultural Co. Inc., dropped from 15.84 percent to 12.95 percent.

Brown sold P29 million worth of AB shares the previous month.

Brown is still AB’s second biggest shareholder after bilyonaryo Bobby Ongpin (58.38 percent) and ahead of Eric Recto (11.38 percent) and Dennis Uy (four percent).

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