Karachi: Crescent Steel and Allied Products Limited, a substantial shareholder in Altern Energy Limited, has executed a significant transaction involving the sale of shares in the company. According to the disclosure of interest under the Pakistan Stock Exchange (PSX) Regulation 5.6.4, the transaction was completed on January 10, 2025.

Crescent Steel and Allied Products Limited, a key stakeholder in Altern Energy Limited, sold a total of 45,500 shares at a rate of 19.96 per share. This transaction was carried out through the Central Depository Company (CDC) and falls under the broader category of share market activities facilitated by the PSX.

The execution of this transaction has resulted in a cumulative holding of 60.42 million shares by Crescent Steel and Allied Products Limited in Altern Energy Limited, reflecting a cumulative percentage of 16.62% of the total shares. This substantial shareholding places Crescent Steel in a pivotal position within the company's shareholder structure.

According to information available from the Pakistan Stock Exchange (PSX), such transactions by directors, CEOs, executives, and substantial shareholders, including their spouses and minors, are reported under the PSX regulations to maintain transparency and compliance with market standards.

Altern Energy Limited, operating within the designated market category of energy and utilities, continues to be a significant player in the sector. The transaction executed by Crescent Steel and Allied Products Limited is part of routine market practices that ensure the effective management of investments and shareholder interests.