Prince Nawaf of Saudi Arabia has sold four million shares of Horsham (TSE) at US$11.62, cutting his ownership of the investment company in half to 4.5%.
The shares were sold on the New York Stock Exchange by Killarney Ltd., a holding company controlled by Nawaf.
A spokesman for Horsham said the company did not know why the shares were being sold.
Horsham, which owns about 20% of American Barrick Resources (TSE), recently announced that it would pay an initial annual dividend of US50 cents to shareholders on June 30.
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