AFRICAN budget airline Fastjet Plc (FJET.L) said its
largest shareholder, Lonrho Ltd, had sold its full stake in the carrier for
about 1.49 million pounds ($2.38 million).
Lonrho sold about 52.4 million shares in the airline
for 2.85 pence per share, a 17 discount to the closing price of Fastjet's stock
on Wednesday.
Fastjet's London-listed stock was down 12 percent at
3.00 pence on Thursday afternoon.
Lonrho, an agriculture-focused conglomerate whose
roots go back more than a 100 years to colonial Africa, owned 11.27 percent of
Fastjet as of October 31 according to Thomson Reuters data.
Lonrho said in May that it was being bought out by
Swiss billionaire Thomas Schmidheiny and Swiss investor Rainer-Marc Frey.
Fastjet, backed by easyJet's (EZJ.L) billionaire
founder Stelios Haji-Ioannou, has ambitions to become the first pan-African
low-cost carrier and operates within Kenya, Tanzania, Ghana and Angola.
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