Bullish: GSIS jacks up stake in Security Bank by 51 percent since Wik Veloso’s takeover

The state pension fund is betting big on Security Bank of bilyonaryo Frederick Dy.

Government Service Insurance System (GSIS) has increased its stake by 51 percent in the country’s 10th biggest lender after amassing a total of 14.335 million SECB shares from June to December 2022. SECB traded between P78 and P97 during the period.

GSIS started its aggressive accumulation in SECB with the election of veteran investment banker Arnulfo “Wick” Veloso as president and general manager.

GSIS’ stake is now pegged at 5.6 percent which enabled it to surpass Social Security System (with 5.01 percent) as the third biggest investor in SECB with 5.6 percent.

https://bilyonaryo.com/2023/01/26/bullish-gsis-jacks-up-stake-in-security-bank-by-51-percent-since-wik-velosos-takeover/business/