Large deals with FARA ahead of the AGM decision on delisting tomorro

Automatic fare collection systems provider for the public transport sector Fara’s (OSE: FARA) share has been in focus today. The company just said that Sabaro Investments Limited has sold its entire holding of 3.188.426 shares, representing 10.10% of the entire share capital. Following this another large transaction of around 680 000 shares has taken place. Both of these were done at 4 NOK a share.

The two largest owners according to the company’s website are visionary technology companies focused private equity investor Redback AS at just over 30% of shares and Rams AS with around 15%. Redback states that its typical investment is between 25 and 100 millio NOK.

The Board of Fara ASA has sent the AGM a suggestion to delist the company’s shares from Oslo Stock Exchange. The firm said this is due to the challenges presented by the demands stemming from listing to a company of Fara’s size. It currently has a market cap around 130 million NOK. Its general assembly will be held tomorrow. The stock is now up 9% for the day at 4.25 NOK.