New Delhi, Aug. 27 -- Hong Kong-based Prudential plc on Thursday completed the sale of a 2 per cent stake in ICICI Prudential Asset Management Company (AMC) for Rs 3,030 crore through an open market transaction.
Prudential, through its subsidiary Prudential Corporation Holdings Ltd, sold 98,85,169 shares, representing a 1.99 per cent stake in Mumbai-based ICICI Prudential AMC, according to bulk deal data on the BSE.
The shares were disposed of at an average price of Rs 3,065.47 apiece, taking the transaction value to Rs 3,030.27 crore.
After the latest transaction, Prudential Corporation Holdings will retain a 32.6 per cent stake in ICICI Prudential Asset Management Company Ltd.
The combined holding of promoters and promoter group entities in ICICI Prudential AMC declined to 85.61 per cent from 87.60 per cent.
Details of the buyers of ICICI AMC's shares could not be identified on the BSE. ICICI Prudential AMC's shares declined 4.06 per cent to close at Rs 3,092.65 apiece on the NSE.
Published by HT Digital Content Services with permission from Millennium Post.