Almas and Carlines up stake in Sierra Cables over 10%

Almas Organisation (Pvt) Ltd. along with its connected party, Carlines Holdings has increased their combined stake in Sierra Cables PLC to over 10 percent with the recent purchase of 2.25 million shares of Sierra Cables, according to a stock exchange filing.

It noted that the two parties purchased 2.25 million shares of Sierra Cables on 14th this month increasing their stake to 10.1 percent or 54.325 million shares in the company. 

By the end of last year, Almas Organisation (Pvt) Ltd and Carlines Holdings held 7.8 percent of Sierra Cables’ voting shares, being the second and third largest shareholders of the company respectively.

Sierra Holdings (Private) Limited held 58.11 percent of the company’s shares as the controlling shareholder.