By James A. Loyola Former 8990 Holdings Inc. President Januario Jesus B. Atencio has divested almost all of his shareholdings in the mass housing developer for P3.72 billion months after retiring from his post. In a disclosure to the Philippine Stock Exchange, 8990 said Januarius Holdings, Inc., Atencio, and Rodrigo B. Libunao, Jr. sold 203.25 million common shares of the Company to various individual buyers. The sellers also sold 311.3 million common shares of the Company to existing shareholders: 151.75 million common shares to Iholdings, Inc.; 151.25 million shares sold to Kwantlen Development Corporation; and 8.3 million shares to 8990 President Willibaldo J. Uy. In all, the 8990 Shares sold by the Sellers constitute 9.32 percent of the total issued and outstanding common capital stock of the Company. None of the individual buyers has acquired more than 1 percent of the total issued and outstanding common capital stock of the Company. On the other hand, as a result of the foregoing transactions, each of Iholdings and Kwantlen has acquired an additional 2.7 percent of the total issued and outstanding common capital stock of 8990. Atencio said “there is very little left”  of his 8990 stock since “it’s almost a complete divestment. It’s really a rational and strategic decision from an investment point of view.” He added that, “I am not able to diversify my assets in such a way as to preserve it and, at the same time, affords me the opportunity to go into other businesses like fintech, manufacturing and other activities.