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When Ayala Corp. first started buying more Ayala Land Inc. (ALI) shares in June, it barely raised eyebrows.
Now, after five separate purchases in just a month, the pattern is becoming harder to ignore.
Since June 17, Ayala has acquired about 58.05 million ALI common shares, spending roughly P810.84 million based on disclosed transaction prices.
The buying streak culminated in July 17, when Ayala disclosed another purchase of 6.9 million shares at an average price of P16.715 each. On the same day, ALI shares jumped 5.72 percent to P17.
