Credit Suisse (Singapore) has sold about one crore shares, equivalent to 2.36% stake, in the Housing Development and Infrastructure (HDIL) through open market transactions.
Credit Suisse Singapore has sold 30,15,356 shares in the Mumbai-based firm between November 23, 2012 and January 23, 2013. It further sold 69,11,723 shares in HDIL on January 24.
After these transactions, Credit Suisse Singapore stake in HDIL has reduced to 2.67% from 5.04% as on November 22, 2012.
HDIL is a real estate development company. Its business activity comprises of construction and development of residential projects, commercial, retail and slum rehabilitation projects. It is also engaged in construction of special economic zone (SEZ).