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Karachi, On May 2nd and May 4th, 2023, Arisaig India Fund Limited, a substantial shareholder of National Foods Limited, sold a total of 31,329,476 shares of the company at a rate of 97.00 and 85.00 respectively. The sale was made through the Central Depository Company in the form of non-objective material (NOM) certificates.
The disclosure of interest by a director, CEO, executive or their spouse and substantial shareholders is an important factor for the market to understand the market sentiments, which help shareholders to make informed decisions.
Arisaig India Fund Limited’s sale of shares in National Foods Limited is worth millions of dollars and is likely to have a significant impact on the company’s stock prices. National Foods Limited has not released any official statement in response to the transaction.