AYALA CORP. raised its stake in listed education holding company iPeople, Inc. after acquiring P351 million worth of shares from listed holding company A. Soriano Corp. (Anscor).
Anscor and Ayala completed a block sale involving 29.24 million common shares of iPeople at P12 apiece, equivalent to a 2.8% ownership, the two companies said in separate disclosures on Thursday.
The move increased Ayala’s stake in iPeople to 36.3%, while Anscor’s stake dropped to 6.13%.
The transaction received approval from the Philippine Competition Commission on July 29.
iPeople is a holding company under Ayala Corp. and Yuchengco-led House of Investments, Inc., with investments in the education sector.
Its portfolio includes Mapua University, Mapua Malayan Colleges Laguna, and Mapua Malayan Colleges Mindanao.
On Thursday, Ayala Corp. shares rose 1% or P6 to P606 each, iPeople shares climbed 1.93% or 11 centavos to P5.81 apiece, and Anscor stocks fell 3.12% or 46 centavos to P14.30 per share. — Revin Mikhael D. Ochave
