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.