Insurance group Britam #ticker:BRIT has sold an additional 20.1 million shares of Equity Group #ticker:EQTY with a market value of Sh852 million, cutting its ownership in the country’s most profitable lender to a new low of 6.77 per cent in the year ended December.
Britam, which in 2019 held 275.7 million shares of the lender equivalent to a 7.3 per cent stake, has been reducing the concentration of its investment in the institution which often represents more than 10 per cent of its total assets.
