Dee sold 10.49 million shares at P50.90 each via a regular block sale deal. Such transactions made by senior bank executives and directors are typically disclosed to the Philippine Stock Exchange.
Dee, who is in his late 80s, has been a member of China Bank’s board since 1984. He is also the chair of JJACCIS Development Corp. and Enterprise Realty Corp., and director of Suntree Holdings Corp.
He continues to own 41.2 million shares in China Bank, one of the country’s biggest and oldest banks. The stake, currently worth about P2 billion, is equivalent to a 1.53-percent stake in the bank.
