We have reported earlier that Henry “Big Boy” Sy Jr. has shuffled his 15 Million SM shares from his brokerage to his company (presumably a holding company) at 863.50 a share, crossed through the stock exchange on August 12, 2020 valued at 13 Billion Pesos.
Then again on August 27, 2020 he transferred another block of 15 Million SM shares from his brokerage to his company at 880 a share. That transaction would be valued at 13.2 Billion Pesos.
In all, Henry “Big Boy” Sy Jr. has transferred a total of 30 Million SM shares to his company. The 30 Million SM shares are worth around 26 Billion Pesos.
For now, the purpose of the transfers are not yet known. Only one thing is sure for now that those transfers were executed for a purpose.
Those shares (valued at around 26 Billion Pesos) could easily be used as a security for a fund raising of around 20 Billion Pesos. Any company whose market capitalization is at the vicinity of 20 Billion Pesos could be an easy target. Henry “Big Boy” Sy Jr. has a keen interest on the cement industry having created BIGBOSS Cement Inc.
It is a good coincidence that Cemex Holdings Philippines, Inc. (CHP)’s market capitalization has hovered around the vicinity of 20 Billion Pesos.
An ANC news anchor blurted out that SM group is an acquirer in an M & A play.
Disclaimer: This is an independent analysis for discussion purposes with the aim of giving stock traders and investors an independent perspective. Accuretti Systems Inc. does not hold any shares of Cemex Holdings Philippines. It holds SM Investments shares.