Key Points
We are very happy to keep our shareholding on that level, Marroco said..
Fresh from the divestment of 3.5% holding in ITC Ltd, the conglomerates largest shareholder BAT Plc chief executive Tadeu Marroco said it does not want to dilute any more of its remaining 25.51% stake in ITC since BAT wants to have an influence in the ITC board and its future plans...
BAT on Wednesday completed its block deal of 3.5% holding (selling 43.69 crore shares) in ITC to institutional investors which reduced its shareholding of 29.01% to 25.51%..
Post the block deal, BAT continues to be the largest shareholder in ITC with the Life Insurance Corporation of India being the second-biggest stockholder in the century-old Kolkata company with 15.2% holding...
At the same time, we will press ahead with the transformation of the company, Marroco said.. While ITC share price closed at a gain of 4.5% on Wednesday after the completion of the BAT block deal, on Thursday it closed at Rs 419.8 falling by 0.62% at the Bombay Stock Exchange when the benchmark Sensex rose by 0.46%...
