The Public Investment Corporation (PIC) has reduced its shareholding in cement manufacturer PPC from 9.52% to 4.93%.
The State-owned fund manager has progressively been decreasing its stake in the cement manufacturer, having reduced its shareholding from 25% to about 19% in June, to just under 14% in July and again to 9.52% in September.
The PIC previously announced that its disposal of shares in PPC was part of rebalancing its listed investment portfolio in the ordinary course of business.