Karachi: Strategic Investors announced the sale of their 6.1% shareholding in Power Cement Limited, a significant transaction involving 80,506,670 ordinary shares of the company. According to information available from the Pakistan Stock Exchange (PSX), this development came into light post-market hours on 26 August 2024. The shares were sold by two key investors: IFU Investment Partners K/S (IIP) and The Investment Fund for Developing Countries (IFU), each holding an equal share of the stake amounting to 40,253,335 shares.

The sale marks the end of the lock-up period, allowing these shareholders to divest their interests as per their strategic timelines. IFU and IIP have been part of Power Cement's financial landscape for nearly seven years, a typical investment horizon for IFU. Additionally, the transaction will prompt the resignation of the non-executive director representing both IFU and IIP at Power Cement.

The decision to sell comes as IIP reaches the end of its fund life, necessitating a divestment from its holdings. This transaction is subject to the regulations under Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations, ensuring compliance with legal standards for such significant financial movements.

This change in shareholding has been communicated to the TRE Certificate Holders of the exchange as required, ensuring transparency and adherence to regulatory expectations in market operations. The implications of this transaction for Power Cement's governance and strategic direction will unfold as the market absorbs this new development.