Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Lonrho departs fastjet's share register

Lonrho departs fastjet's share register

The steady reduction of Lonrho’s (LON:LONR) stake in low-cost African airline fastjet (LON:FJET) has concluded, with the company selling the remainder of its holding.

When Rubicon, the forerunner to fastjet, acquired Lonrho’s aviation division in June 2012, Lonrho had a 73.7% in the company, but by the beginning of this week that had reduced to 11.27%.

With the sale of its remaining holding of 52.4mln shares, at a price of 2.85p per share, Lonrho no longer holds any shares in fastjet, and a major stock overhang has now disappeared.

Earlier this week, fastjet added more flights to its newly launched Dar es Salaam to Mbeya route in Tanzania after high demand meant some services sold out.

Last month, the company achieved its ambition to be an international airline when its long-awaited Dar es Salaam-Johannesburg route started operating.

View full FJET profile View Profile

Fastjet PLC Timeline

Article
January 05 2017
Newswire
October 03 2016
Newswire
September 20 2016

Related Articles

Avation
September 20 2018
Avation said its 2018 performance showed growth consistent with an increase in fleet assets and record high monthly lease rental collections
container ship
October 16 2018
Xpediator Group is especially strong in eastern and central Europe

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use