GT Capital founder sells stock after 50% rise

Filipino business magnate George Ty sold partial stake in his flagship company after the stock reached an all-time high.
George Ty and his family has a net worth of $4.6 billion according to Forbes
George Ty and his family has a net worth of $4.6 billion according to Forbes

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...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222