Nickel Industries (ASX:NIC) said that Harum Energy sold a stake of around 4.2% in the firm in a block trade at AU$0.69 per security, according to a Tuesday Australian bourse filing.
It was responding to a letter from the ASX related to the low share price of the mining firm, as well as an increase in the volume of trading, last Monday, March 10.
Nickel Industries said that the matter may be related to Harum Energy selling 178.5 million shares of the mining firm as part of the Indonesian firm's ongoing liquidity management.
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