Alterra shareholder unloads 23.79% stake

A KEY shareholder of Alterra Capital Partners Inc., formerly iRipple Inc., has unloaded a 23.79-percent stake in the company in favor of Star Alliance Securities Corp. for P162.25 million.

Alterra’s majority shareholder, stockbroker Alfonso Anggala, sold 74.09 million shares in Alterra at P2.19 each through a special block sale at the Philippine Stock Exchange, the company disclosed to the bourse on Tuesday. The transaction marked a discount to market prices.

Shares of Alterra, a firm listed on the PSE’s small and medium enterprise (SME) board, closed at P3.15 a share on Tuesday, rising by 0.32 percent and giving it a market capitalization of P977.8 million.

Anggala is the treasurer of Alterra and also the nominee of the buying party, Star Alliance, a PSE trading participant.