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. 
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.