The Wenceslao family has consolidated its ownership in listed construction firm DM Wenceslao & Associates Inc. (DMW) shareholding under its holding company — WHC Inc. (WHCI).
Delfin Wenceslao Jr., DMW chairman, has transferred his share to WHCI, raising WHCI’s stake to 79.96 percent from the previous 62.92 percent.
“The transaction was executed on July 1, 2021 at P6.80 per share,” DMW said.
DMW said the transaction “was conducted primarily for estate planning purposes.”
“We note that the transaction will not result in dilution and will not affect DMW’s public float,” it said.
DMW listed with the Philippine Stock Exchange in 2018, after raising P15.5 billion through an initial public offering it used to expand its real estate development in Aseana City.
