Roxas and Co. Inc. (RCI) has sold a total of 39,790,204 treasury shares “from the date when the sale of treasury shares program commenced,” according to the company’s own filing. It said it started “selling its treasury shares on 15 February 2018,” according to lawyer Monica Isabelle Villanueva, compliance officer and assistant corporate secretary.
In the same filing, Roxas & Co. said its board has authorized it to sell 933,703,514 treasury shares but did not state the amount of budget. On Mar. 26, 2020, the company sold 264,000 RCI common shares at P1.40 each, which increased to 2,056,809,164 its outstanding from 2,056,545,164 common shares.