Fruitas Holdings Inc., the listed food and beverage kiosk operator, said it sold 25 million shares to a high-net worth investor at a premium price of P2 per share.
Fruitas in a disclosure to the stock exchange said Jefferson Ngo, belonging to the family behind Solanda Enterprises which also owns the JT Centrale community mall in Sta. Cruz, Manila, acquired 25 million shares in the company for P50 million.
The P2 per share acquisition price is a 20.5-percent premium to the closing price on December 15.
Fruitas president and chief executive Lester Yu, through his controlled company Lush Properties Inc., sold 25 million shares to Ngo.
Following the disclosure, Fruitas on Wednesday rose 5.4 percent to close at P1.75 apiece.
Ngo has been a stock investor for quite some time, especially in the US markets where he invests in blue chips stocks. Fruitas is the first Philippine company where he will take a significant position.