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British American Tobacco PLC - London-based maker of cigarette and vaping products - Intends to sell between 7% and 15.3% of shares in ITC Hotels Ltd in a block trade through an accelerated bookbuild. Says the final number of shares sold will be determined to optimise the overall pricing outcome to the group. BAT has held 15.3% of ITC Hotels since its demerger from ITC Ltd, the Kolkata-based conglomerate with businesses across India’s consumer goods sector. ITC Hotels has been trading as a publicly-listed entity since January this year. ‘As previously stated, a direct stake in ITC Hotels is not a strategic holding for BAT, therefore, I am pleased that the proceeds from this transaction will further support continued progress towards our stated 2026 leverage corridor,’ BAT Chief Executive Officer Tadeu Marroco says. In May this year, BAT disposed of 313.0 million shares in ITC Ltd, netting £1.05 billion from a 2.3% interest sale. Current share price in London: 4,362.00.00 pence, up 0.5% on Thursday afternoon 12-month change: up 49% Current stock price in Johannesburg: R 987.61, down 0.8% 12-month change: up 46% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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