Gokongwei group sells Philex shares

MANILA, Philippines - The Gokongwei group has sold its stake in Philex Mining Corp., the country's largest miner. In separate disclosures to the Philippine Stock Exchange, holding company JG Summit Holdings Inc. and food and beverage company Universal Robina Corp. said they sold a total of about 76. 21 million common shares in the mining company. As of June 30, Philex reported that the Gokongwei group is among the Top 100 stockholders of the company. JG Summit owns about 1.3 percent, while John Gokongwei Jr. has 1.2634 percent. URC, on the other hand, holds about 0.0484 percent of Philex. Gokongwei Jr. is also among the company's board of directors. On Tuesday, Philex shares tumbled 1.3514 percent to P7.30 a piece. As of 11:41 a.m., however, Philex shares were trading at P6.90 each or lower by 5.4795 percent from its previous close. GMANews.TV