Is Henry "Big Boy" Sy Jr. pivoting to cash? Is he done selling SM shares?
We r eported earlier that the SM heir has transferred 30 Million SM shares to a company he controls. It appears now that Henry “Big Boy” Sr Jr. transferred 35,367,989 SM shares which were previously directly registered in his name to his stock broker account at BDO Securities Corporation. Of the 35,367,989 SM shares transferred to his brokerage account, 30 Million shares went into a corporation that he controls. That transfer had a gross value of around 26.2 Billion Pesos. Of the remaining 5,367,989 SM shares, 4,750,000 were dumped into the open market during the period August 3 to August 28, 2020. And the remaining shares may have been disposed in the early days of September. The massive sell-off may have caused the SM shares to dip to as low as 810 as of September 4, 2020. Is he done selling SM shares? Please take note that as of August 31, 2020, Henry “Big Boy” Sr Jr. still has 9,915,181 SM shares in his brokerage account. That would be equivalent t...