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Scales Corp. Ltd. ( (NZ:SCL) ) has shared an announcement.
FirstCape Group Limited has reduced its substantial shareholding in Scales Corporation Limited, disclosing a move from 23,254,453 to 21,952,628 ordinary shares and lowering its stake from 16.145% to 15.087% of Scales’ total shares on issue. The change stems from a series of on-market buy and sell trades, custodial transfers following the end of a client relationship, and transfers into discretionary investment management services across its subsidiaries Harbour Asset Management, BNZ Investment Services, JBWere (NZ), and Consilium.
Following these transactions, Harbour Asset Management now holds the largest portion of FirstCape’s Scales stake, with smaller positions allocated to BNZ Investment Services, JBWere (NZ), and Consilium. The disclosure signals a modest recalibration rather than a full strategic exit, but it slightly reduces FirstCape’s influence as a substantial shareholder while confirming ongoing institutional investment interest in Scales’ shares.
More about Scales Corp. Ltd.
Scales Corporation Limited is a New Zealand-listed company, with its ordinary shares quoted on the NZX. The firm operates within the broader investment and asset management ecosystem, attracting institutional holders such as FirstCape Group Limited and its subsidiaries, which manage client portfolios under various investment mandates.
Average Trading Volume: 109,072
Technical Sentiment Signal: Buy
Current Market Cap: N$880.3M
Find detailed analytics on SCL stock on TipRanks’ Stock Analysis page.