Dacon buys P33-M shares from DMCI
Credit to Author: Tyrone Jasper C. Piad| Date: Thu, 31 Oct 2019 16:47:32 +0000
ARCHITECTURAL design firm Dacon Corp. has acquired additional shares worth P32.94 million from listed DMCI Holdings Inc.
In a disclosure on Wednesday, DMCI said the acquisition came from three transactions completed in October.
Dacon bought P10.39-million worth of shares — 1.28 million shares for P8.12 apiece on average — on October 28.
It purchased an additional 1.76 million shares for P8.1642 each on average, or P14.35 million in total, the next day.
And on Wednesday, the design company acquired 1 million shares for P8.2129 apiece on average, or P8.21 million in total.
As of end-December 2018, Dacon holds 6.84 billion shares in DMCI, representing a 51.51-percent stake.
DMCI Holdings, through its subsidiary DMCI Homes, recently bought a piece of property in Lahug, Cebu City, bringing its total land bank in the province to 55,617 square meters.
Earlier this year, DMCI Homes said it was banking on its newly launched projects in Quezon City to hit its P38-billion reservation sales target this year.
The new additions to DMCI Homes’ Quezon City portfolio are Cameron Residences and The Crestmont, both in Barangay South Triangle.
The real estate firm also eyes to launch five more residential condominium projects in Pasig City, Las Piñas City, Mandaluyong City, Davao City and Cebu City this year.
DM Consunji Inc., the infrastructure arm of the conglomerate, reported earlier that the Cebu-Cordova Link Expressway project was already 47 percent complete as of September.
The Cebu-Mactan toll bridge, being an alternative route, is seen to decongest traffic in the Mactan-Mandaue and Marcelo Fernan bridges, both of which connect the two locations.
DMCI Holdings’ consolidated net income in the first half dropped by 23.45 percent to P9.38 billion from the year-earlier P12.25 billion on lower revenues.
DMCI shares dropped by 6 centavos or 0.73 percent to close at P8.21 apiece on Thursday.