Ice cream manufacturer, Fan Milk Ghana Limited has announced an acquisition of 5.46% of the company’s shares by its parent company, Fan Milk International A/S.

This takes Fan Milk International A/S current shareholding in Fan Milk Ghana Limited to 62.10%.

According to a press statement by the Ghana Stock Exchange, the Free of Payment transaction was executed in Ghana and involved the purchase of 6,345,563 shares ordinary shares in Fan Milk Ghana Limited.

The shares were previously held by Hong Kong Shanghai Arisaig Africa Consumer Fund.

Fan Milk unusually has been performing below expectations on the stock market this year.

It has lost about 74% in share price since the beginning of the year, and is presently selling at GHS1.05 per share.