Friday, 8 August 2014 00:18
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Adam Investments Ltd. yesterday exited from its recent investment PC Pharma Plc.
The company said it sold a 31% stake amounting to 31.46 million shares at prices ranging from Rs. 2.10 per share to Rs. 2.90 per share.
In early July, Adam Investments bought a 5.4% stake in PC Pharma at Rs. 1.90 per share and a 26% stake in late June at a price ranging between Rs. 1.20 and Rs. 1.60. Most of the selling then came from British American Technologies.
Market sources believe yesterday PC Pharma shares were collected by a large number of retailers and select high net worth investors. Overall 46.8 million PC Pharma shares changed hands via 653 trades for Rs. 107.3 million.
In the first nine months of FY14, PC Pharma made a Rs. 102 million loss and had retained loss of Rs. 71.5 million.
