Here’s a story of a company whose stock price rose a staggering 18,025% in one year — from P0.80 in October 1998 to P145.00 in October 1999 — and its consequent crash that almost put the Philippine stock market into collapse.
Who is Dante Tan and what is the Best World (BW) Resources stock scandal? Read on.
As stock traders and investors go gaga over the staggering price increase of the stock of Meralco (Stock Code: MER), several officials of the power distribution company are locking in profits by selling their shares, disclosure reports to the Philippine Stock Exchange (PSE) show.
In July alone, more than 65,000 shares were disposed by eight Meralco officers, with total value amounting to P14.8 million. Although each executive had varying amounts of proceeds, on the average, each one of them got around P1.8 million.
A list of Meralco officers and the number and value of the shares they sold in July are as follows.
