Cuscaden Peak Subsidiary Pares Down Stake In iFast
Shares in iFast closed 6 cents higher or 0.74% up at $8.13 on Feb 18.
CP Invest, a subsidiary of Cuscaden Peak, has pared down its stake in iFast on two occasions. The disposals took place via market transactions.
According to a Feb 17 filing, CP Invest sold 872,700 shares in iFast, netting it some $6.84 million or $7.83 per share on Feb 13.
The disposal lowered CP Invest’s stake in iFast to 9.95% from 10.24% previously.
On Feb 18, iFast said CP Invest sold 75,000 shares for $559,117.50 or $7.45 apiece on Jan 2. The disposal lowered CP Invest’s stake in the company to 10.99% from 11.01%.
iFast reported a net profit of $19.28 million for the 4QFY2024 ended Dec 31, 2024, 46.3% higher y-o-y. Net profit for the full year surged by 135.7% y-o-y to a record $66.63 million.
Shares in iFast closed 6 cents higher or 0.74% up at $8.13 on Feb 18.
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