Karachi: Waves Corporation Limited, a substantial shareholder in Waves Home Appliances Limited, has executed share sales amounting to over 3.28 million shares over three consecutive days in early November, according to a disclosure under Pakistan Stock Exchange (PSX) Regulation 5.6.4.

On November 4, 2024, Waves Corporation Limited sold 826,413 shares at a rate of 7.26 per share, reducing its cumulative holding to 157.95 million shares, representing 58.96% of the total shares. The following day, November 5, 2024, the corporation sold an additional 1,503,411 shares at a rate of 7.35 per share, further decreasing its cumulative total to 156.45 million shares, or 58.40% of the company's shares.

The sell-off continued on November 6, 2024, with the sale of 950,000 shares at a rate of 7.70 per share. This transaction brought Waves Corporation Limited's cumulative shareholding down to 155.50 million shares, constituting 58.04% of the total shares.

According to information available from the Pakistan Stock Exchange (PSX), these transactions were made by Waves Corporation Limited in the ready market, using Central Depository Company (CDC) share certificates.