Ramos family hikes stake in United Paragon

MANILA, Philippines - The investment holding firm of the Ramos family has purchased additional shares in United Paragon Mining Corp. (UPM) for P36 million.

In a disclosure to the local bourse, Anglo Philippine Holdings Corp. said it bought a total of three billion shares of UPM at P0.012 per share.

Anglo Holdings said the shares were purchased by way of a regular cross transaction.

With the transaction, Anglo Holdings stake in UPM will now increase to nearly 23 percent from its previous shareholdings of 21.81 percent.

Aside from UPM, Anglo Holdings has existing investments in North Triangle Depot Commercial Corp., Atlas Consolidated Mining & Development Corp., The Philodrill Corp., MRT Development Corp., MRT Holdings, Inc., Brightnote Asset Corp, and Filipinas Energy Corp.

The company recently unloaded 9.24 percent in NTDCC, owner and operator of the Trinoma commercial center in Quezon City.