The Edge Singapore earlier reported that iFast shares plunged nearly 11% within the first hour of trading on Aug 19 to an intra-day low of $8.63 after the block trade, which was first reported by Bloomberg.
iFast Corporation has confirmed that its second-biggest shareholder CP Invest placed some 14.35 million shares at a 6.7% discount to Monday’s close price, lowering its interest in the Mainboard-listed company from 9.6% to 4.9%.
With the sale, the Cuscaden Peak subsidiary formerly known as SPH Invest has ceased to be a substantial shareholder of iFast, according to an Aug 19 bourse filing.
