Fu Shan has sold its stake in Kina Securities

Company News

by Rachael Jones

Fu Shan Investments has sold its stake in Kina Securities (ASX:KSL)

The 34.94 per cent divestment equates to 57.29 million shares.

Fu Shan have advised that the sale was managed by Morgans Financial, and was bought by a range of new and existing, institutional and retail investors in Papua New Guinea, Australia and New Zealand.

Additionally, Kina (ASX:KSL) is now pleased to confirm that it has complied with the last remaining condition applied to its Banking Licence, namely the requirement for its largest shareholder, Fu Shan, to reduce its shareholding in line with the PNG Prudential guidelines.

Shares in Kina Securities (ASX:KSL) down 7.23 per cent to 77c. 
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.