IFU, IIP to sell 6.1% stake in Power Cement

MG News | August 27, 2024 at 12:30 PM GMT+05:00

0:00

August 27, 2024 (MLN): IFU Investment Partners K/S (IIP) and The Investment Fund for Developing Countries (IFU), the key strategic investors of Power Cement Limited (PSX: POWER) have decided to dispose of their combined 6.1% stake in the company.

IFU and llP would be disposing of their entire shareholding in Power Cement as the lock-up period for the sale of shares has expired.

Additionally, IFU and IIP have been shareholders in Power Cement for approximately 7 years, which aligns with IFU’s typical investment horizon, and IIP has reached the end of its fund life.

It may further be noted that the non-executive director representing IFU and llP will resign immediately after the transaction has taken effect.

This was announced by POWER in a notification on the Pakistan Stock Exchange (PSX) today.

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