George Steuart sells over 10% stake in HVA Foods via market trades

HVA Foods PLC, known for its Heladiv brand, on Thursday announced that its majority shareholder George Steuart & Company Ltd divested more than 10 percent of the company’s issued voting shares through a series of market transactions.

According to a stock exchange filing, George Steuart sold a total of 25 million ordinary voting shares on June 11, representing approximately 10.22 percent of HVA Foods’ total voting stake.

The trades were carried out at prices between Rs.3.50 and Rs.4.00 per share, with the majority of the stake, over 21 million shares, transacted at the lower end of the price range, which is at Rs.3.50 per share.

The disclosure was made in accordance with Section 8 of the Listing Rules of the Colombo Stock Exchange.