IFU, IIP to sell 6.1% stake in Power Cement
MG News | August 27, 2024 at 12:30 PM GMT+05:00
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.
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 174,472.80 415.89M | 0.33% 576.45 |
| ALLSHR | 104,651.34 842.56M | 0.49% 512.09 |
| KSE30 | 53,490.51 167.58M | 0.40% 214.40 |
| KMI30 | 249,663.89 207.53M | 0.51% 1277.01 |
| KMIALLSHR | 68,039.48 418.05M | 0.42% 287.19 |
| BKTi | 48,368.14 50.33M | 0.46% 219.70 |
| OGTi | 34,867.38 19.89M | 1.69% 580.53 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 88,420.00 | 88,545.00 87,125.00 | 860.00 0.98% |
| BRENT CRUDE | 61.77 | 61.84 60.95 | 0.28 0.46% |
| RICHARDS BAY COAL MONTHLY | 86.75 | 0.00 0.00 | -0.10 -0.12% |
| ROTTERDAM COAL MONTHLY | 96.65 | 96.65 96.65 | 0.35 0.36% |
| USD RBD PALM OLEIN | 1,027.50 | 1,027.50 1,027.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 58.36 | 58.45 57.60 | 0.28 0.48% |
| SUGAR #11 WORLD | 15.21 | 15.26 15.18 | -0.05 -0.33% |
Chart of the Day
Latest News
Top 5 things to watch in this week
SBP Interventions in Interbank FX Market
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|