A company spokesperson said recently that textile manufacturer Pegas Nonwovens SA has sold 9.21 percent stake to Templeton Asset Management Ltd.
He said that Templeton Asset Management clients and funds jointly acquired 850,000 shares in Pegas, which gave them 9.21 percent voting rights in the company.
Pegas said that prior to this, another 5.2 percent stake in the company was acquired by Polish investment fund OPERA Towarzystwo Funduszy Inwestycyjnych SA. With the Government holding a two-percent stake, the volume of Pegas' freely traded shares shot up to 98 percent.
According to an analyst, increase of free float would boost trading with Pegas shares in the long term. Pegas will also be able to produce cash flows with the launch of its new production line.
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