Tan locks in 16% gain on Emperor share transfer

Spirits and real estate billionaire Andrew Tan has begun transferring P1.83 billion worth of Emperador Inc. shares to his holding company, Alliance Global Group Inc., locking in a roughly 16 percent gain on the stake he acquired in May and June.

- By JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange, Emperador said The Andresons Group has sold three million Emperador shares to AGI at the market price of 15.84 per share. After this, Andresons Group still has 132 million Emperador shares left.

In a show of confidence in the company, Tan had mopped up Emperador shares in May and June when its market price had fallen to as low as 213.32 per share.

During this period, it bought a total of 135 million Emperador shares, equivalent to 0.86 percent of the company, at a total cost of P1.83 billion or an average of P13.56 per share.