The deal involves the purchase of 29.2 million shares, increasing Ayala’s stake to 36.3 percent while reducing A. Soriano’s position to about 6 percent, based on a regulatory filing on Tuesday.
The Yuchengco family’s House of Investments remains the largest shareholder of iPeople with 48 percent, data from the stock exchange showed.
iPeople operates Mapúa University with campuses in Intramuros, Manila, and Makati. Its subsidiary, Malayan Education System, runs Malayan Colleges Laguna (engineering and business), Malayan Colleges Mindanao (Davao), and Malayan High School of Science, a math- and science-focused school in Manila.
In 2019, iPeople merged with Ayala Corp.’s AC Education, adding to its portfolio National Teachers College, University of Nueva Caceres, and APEC Schools.
