Buyback. A filing posted on the website of the Philippine Stock Exchange shows Philweb Corp.’s “buying spree” of its own shares in the last few trading sessions of 2012 that dramatically pushed up the stock’s price.

It bought back three million shares at P12.478 each, closing 2012 with 40.212 million treasury shares; 1.15 million shares at P12.3395 each on December 27; 1.10 million shares at P12.3029 each on December 26; and 1.65 million shares at P12.3091 each on December 21. As has been decided by the company’s board last year, Philweb continued to engage in share buyback. It bought back 1.465 million shares at P14.104 each on January 14, increasing the company’s treasury shares to 48.762 million; 500,000 shares at P13.7231 each on January 10; and one million shares at P13.318 on January 9. All in all, in the first two weeks alone, Philweb had increased the number of its treasury shares to 48.762 million.

Roberto Ongpin’s P10-billion wealth. Such is the trading game played by listed companies. When insiders perceive their stocks to be undervalued, either they themselves or their companies buy or buy back their own shares. In the case of Philweb, have investors been closely watching the company and its trading activities, and also bought shares at P12.3091 on December 21, they would have been ahead by 14.582 percent when Philweb surged to P14.104 on January 14 when it opened at P14.02, hit a high of P14.22, dropped to a low of P14 and closed at its session’s high. The company recorded its 30-day high at P14.46 on November 28 and a month’s low of P12.10 on December 12. Computed on Philweb’s peak on January 14, the 714.778 million Philweb shares owned by Roberto Ongpin, Philweb chairman, would be worth P10.164 billion. Ongpin’s holdings represent 48.78 percent, up from 43.34 percent of outstanding common shares as of end-2011.

Insiders’ trades. Manuel Pangilinan, chairman and chief executive officer of Philex Mining Corp., bought 50,000 Philex shares at P15.88 each on January 7. At this acquisition price, his holdings in Philex totaling 4.655 million shares are worth P73.9214 million. His worth in Philex pales in comparison with his holdings in Philippine Long Distance Telephone Co.