Gregorio Araneta Sells Majority Stake in PhilWeb

Published: 2025-10-10T08:26:39+00:00 | Author: Silvia Pavlof

Summary

Gregorio Ma. Araneta III’s investment vehicle, Gregorio Araneta Inc., has sold its controlling 57% stake in PhilWeb Corp. The transaction covers 829.57 million common shares and was carried out by two local holding companies, Nexora Holdings, Inc. and Velora Holdings, Inc., for a total of PHP 1.8 billion (approx. $30.9m). The deal marks Araneta’s full exit from the gaming-technology firm he acquired in 2016.

The Philippine Stock Exchange paused PhilWeb trading for an hour after the disclosure; trading resumed with the stock closing down more than 20% at PHP 4.06. The sale price reported was PHP 2.17 per share. Because the buyers now hold over 35% of voting shares, a mandatory tender offer under the Securities Regulation Code is expected and could alter the company’s public float and foreign ownership (from 4.9% up to a potential 40%). PhilWeb notes it owns no land and therefore remains within foreign-ownership limits.

Management links suggest continuity: Edgar Brian Ng, head of Nexora and PhilWeb president/director, is one of the principal purchasers, and vice-chair/treasurer Crisanto Roy Alcid is also involved with Nexora. Market observers have raised possibilities such as structural changes or a backdoor listing, though the buyers haven’t confirmed any such plans.

Key Points

Gregorio Araneta Inc. sold 829.57 million common shares (57%) in PhilWeb to Nexora and Velora for PHP 1.8bn (~$30.9m).
Reported transaction price: PHP 2.17 per share; PhilWeb shares later closed at PHP 4.06 after an intraday drop of over 20%.
The Philippine Stock Exchange suspended trading for an hour to allow the market to absorb the announcement.
The buyers exceed the 35% threshold, triggering a mandatory tender offer under the Securities Regulation Code.
Foreign ownership could rise from 4.9% to as much as 40%, but PhilWeb says it still complies with limits as it owns no land.
Edgar Brian Ng (Nexora head; PhilWeb president/director) and Crisanto Roy Alcid (vice-chair/treasurer) are linked to the buyers, implying management continuity.
Analysts have speculated about possible structural changes or a backdoor listing, though there is no confirmation from the buyers.

Context and relevance

This is a material change for the Philippine online-gaming sector. PhilWeb is one of the country’s earliest online gaming firms and Araneta’s exit removes a stabilising owner who took control after regulatory upheaval in 2016. The mandatory tender-offer requirement, potential shift in public float and the immediate market reaction make this important for investors, regulators and industry watchers tracking M&A, corporate governance and ownership concentration in the gaming market.

Why should I read this?

Quick and blunt — this deal swaps out who runs one of the Philippines’ original online-gaming players, could force a tender offer, and already rattled the stock. If you keep an eye on gambling M&A, Philippine equities or regulatory shifts in the sector, this matters. We’ve read the detail so you don’t have to.

Source

Source: https://www.gamblingnews.com/news/gregorio-araneta-sells-majority-stake-in-philweb/