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Araneta divests from PhilWeb
Manila Bulletin
|October 10, 2025
In a management takeover, President Ferdinand R. Marcos Jr.'s brotherin-law, Gregorio Araneta III, is divesting his entire 57-percent stake in the publicly listed gaming firm PhilWeb Corp. for ₱1.8 billion in favor of two firms, one of which is headed by PhilWeb's president, Edgar Brian K. Ng.
PhilWeb disclosed to the Philippine Stock Exchange (PSE) that its principal shareholder, Gregorio Araneta Inc. (GAINC), has entered into a share purchase agreement with Nexora Holdings Inc. and Velora Holdings Inc. for the sale of GAINC's 57-percent interest in PhilWeb.
This translates to 829.57 million PhilWeb shares sold at ₱2.17 per share. After a onehour trading halt imposed by the PSE for investors to digest the disclosure, the market sold down PhilWeb's stock on news, trading at down 1.77 percent, or at ₱5 per share, as of this writing on Thursday, Oct. 9, from ₱5.09 on Wednesday, Oct. 8.
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