Consunji private holding firm, DFC Holdings, Inc., accumulates DMC, so are local and foreign institutional investors
DFC Holdings, Inc. is one of the private holding company of the Consunji family’s investment in the listed DMCI Holdings Inc. ( DMC ). The other being the DACON Corporation. DACON Corporation and DFC Holdings, Inc. are the principal stockholders of DMC, holding 51.51% and 17.92% of the outstanding shares of DMC as of end of 2019, respectively. DFC Holdings, Inc.’s 17.92% holdings in DMC as of December 31, 2019 is equivalent to 2,379,799,910 shares. COVID-19 pandemic restrictions severely impacted most of the operations of DMC weakening its finances triggering the market to lower the valuation of DMC. DMC dip to a 52-week low of 3.10 a share. The dip in the share price of DMC gave DFC Holdings, Inc. the opportunity to snap up DMC shares. All throughout 2020, DFC Holdings, Inc. bought a total of 55,425,100 DMC shares to increase its holdings to 2,435,225,010 shares as of end of August 2020. For August 2020 alone DFC Holdings bought 13,485,000 DMC shares costing it 50...