Dennis Uy buys 100 million shares in Roberto Ongpin-led mining firm
By Ralf Rivas
North Kitanglad Agricultural Company sells 100 million common shares of Atok-Big Wedge to Dennis Uy’s Udenna Corporation at P2 per share or a total of P200 million
SHARES. Dennis Uy’s Udenna Corporation buys 100 million common shares of Roberto Ongpin-led mining company Atok-Big Wedge. File photo by Angie de Silva/Rappler
MANILA, Philippines – Dennis Uy’s Udenna Corporation bought 100 million common shares of Roberto Ongpin-led mining company Atok-Big Wedge, the latter announced on Tuesday, July 16.
In a disclosure to the Philippine Stock Exchange, Atok-Big Wedge said Udenna bought the shares of North Kitanglad Agricultural Company through a special block sale last Friday, July 12.
Udenna got the shares at a negotiated price of P2 per share or a total of P200 million.
Uy was elected as vice chairman and independent director of Atok-Big Wedge in June 2018.
The mining company was established in 1931 and was publicly listed in 1948. It is engaged in exploration and development of mining, oil, gas, and other natural resources.
Meanwhile, Uy packs a diverse portfolio, including shipping, restaurants, and energy.
Uy’s consortium with China Telecom, which is now called Dito Telecommunity, bagged the Philippines’ 3rd telco slot.
Source: Rappler.com