Strategic investors IFU Investment Partners K/S (IIP) and The Investment Fund for Developing Countries (IFU) have announced their decision to sell their collective 6.1% stake in Power Cement Limited, according to a notice sent to the Pakistan Stock Exchange (PSX) on Tuesday.
The two entities hold a total of 80,506,670 ordinary shares in the company, with each holding 40,253,335 shares.
The investors indicated that the non-executive director representing both IFU and IIP will resign immediately following the completion of the transaction.
The decision to sell the shares comes after the expiration of the lock-up period and the completion of the typical 7-year investment horizon for IFU, alongside the end of IIP’s fund life. The exit marks the conclusion of their strategic investment in Power Cement.
The sale of these shares will formally end the involvement of IFU and IIP in Power Cement, a partnership that has lasted for nearly seven years. The company will now look to navigate this transition as it continues its operations in the cement industry.
