JTH Davies buys into STI

Businessman Eusebio Tanco has started infusing his education-related interests, including shares in STI Education Services Group Inc., into dormant publicly listed holding firm JTH Davies Holdings Inc.

JTH Davies told the Philippine Stock Exchange that the purchase of 35 million shares of STI was “pursuant to the thrust of JTH to invest in schools and academic-related activities.”

The holding firm also acquired two additional blocks of shares in STI consisting of 27.6 million and 4.72 million shares.

Both JTH and STI are controlled by Tanco’s group.

JTH shares fell by 3.39 percent to P2.56 Tuesday. The last closing price gives it a market capitalization of P814 million.

STI, founded in 1983, has over 100 college campuses around the country. It also has seven grade schools in Metro Manila and northern Luzon.