Foreign shareholders have sold over half their stake in Hemas Holdings to local participants in September. At the start of September, foreign holdings accounted for 108 million shares representing 18.2% of the company had come down to 51.9 million shares representing 8.7% of the company on September 10.
On September 13 there was a crossing transaction for 10 million shares with the current controlling interests of the group undertaking to purchase the shares at Rs 72. Accordingly, Husein, Abbas, and Imtiaz Esufally purchased 2.5 million shares each from their personal accounts in the company.
Ama group of which Murtaza Esufally has an indirect interest purchased the remaining 2.5 million shares.
Given the size of the transaction, the brokerage community opined that the seller is probably BNYMSANV Re-Lf Ruffer Invest.
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