Filipino tycoon George Ty and his family raised Ps8 billion $172 million from the sale of shares in their flagship company GT Capital on Wednesday night, taking advantage of a big rally in the stock since the last time they sold shares.
Ty and some of his family sold 5.23 million shares in GT Capital, a diverse conglomerate he created as a holding vehicle for various assets in 2007. The sale in itself was not unusual the family came to the market last February, and once in 2013 but the sharp rally in the company’s stock meant Ty got a much better price than he did the last time he...
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