DigiPlus Interactive Corp. disclosed Wednesday that board director Willy Ocier sold 120,000 shares of the company on July 3 and repurchased half that amount—60,000 shares—a day later through a stockbroker.
In a filing with the Philippine Stock Exchange, DigiPlus said Ocier sold the shares in four equal tranches at an average price of P47.775, for a total value of P5.73 million. On the day of the sale, DigiPlus shares traded between P47.85 and P31.75, eventually closing at P38.75.
On July 4, Ocier acquired 60,000 shares at prices ranging from P29.80 to P33, totaling P1.86 million. His purchase prices were all above the stock’s closing price of P29.50 on that day.
The transactions came amid increased market volatility.
DigiPlus shares have steadily declined since reaching a high of P65.30 on June 11, pressured by mounting calls for a ban on online gaming in the Philippines. The growing regulatory uncertainty has cast a shadow over the company’s recent announcement of its expansion into Brazil’s emerging gaming market.
To restore investor confidence, DigiPlus unveiled a P6 billion share buyback program on Monday, which will run over a 12-month period. Following the announcement, the company’s stock rebounded sharply, rising to P37.50 on Tuesday from a close of P29.50 the previous Friday.
