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Melstacorp Ltd. has bought a further near 1% stake in DFCC Bank for Rs. 260 million.
The block amounting to 2.2 million shares was bought at Rs. 117.70, the same price at which Melstacrop acquired 0.5% stake recently for Rs. 176.5 million.
With the latest acquisition, Melstacorp’s stake in DFCC is now close to 8%, becoming the biggest private shareholder and fifth-largest owner. Previously Readywear Industries owner M.A. Yaseen was the fifth-largest with a 7.6% stake.
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