The Wenceslao family consolidated their shareholdings in listed firm D.M. Wenceslao & Associates Inc. under the family holding company WHC Inc.
DWM said in a disclosure to the stock exchange the consolidation was finalized via a block sale transaction of DMW chairman Delfin Wenceslao Jr.’s 578,798,847 shares to WHCI. The transaction was executed on July 1, 2021 at P6.80 per share.
“The transaction was conducted primarily for estate planning purposes and the aggregate ownership of the Wenceslao Family in DMW was not affected,” DWM said.
“Further, we note that the transaction will not result in dilution and will not affect DMW’s public float,” it said.
The transaction increased WHCI’s ownership in DMW by 17.04 percent to 79.96 percent. DMW is an integrated property developer with expertise in land reclamation, construction and real estate development.