Coronation Asset Management cuts stake in Abil

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African Bank Investments Limited (Abil) says Coronation Asset Management cut its stake from 19.62 per cent to 8.28 per cent.

Coronation Asset Management Limited has notified the bank that it has decreased its holding in ordinary shares of Abil from 19.62 per cent to 8.28 per cent.

“[DATA CML:Coronation Asset Management Limited] has today, notified the company that accounts under its management has decreased its holding in the ordinary shares of [DATA ABL:African Bank Investments Limited] from 19.62 per cent to 8.28 per cent, based on the total issued shares of the company being 1 501 093 232 shares,” the asset management company said in a statement.

Read the full communique here.