African carrier Fastjet's largest investor sells entire stake

(Corrects figure in first paragraph to 1.49 million pounds, from 149 million pounds; adds dropped word million in second paragraph)

Nov 14 (Reuters) - African budget airline Fastjet Plc said its largest shareholder, Lonrho Ltd, had sold its full stake in the carrier for about 1.49 million pounds ($2.38 million).

Lonrho sold about 52.4 million shares in the airline for 2.85 pence per share, a 17 discount to the closing price of Fastjet (LSE: FJET.L - news) 's stock on Wednesday.

Fastjet's London-listed stock was down 12 percent at 3.00 pence on Thursday afternoon.

Lonrho, an agriculture-focused conglomerate whose roots go back more than a 100 years to colonial Africa, owned 11.27 percent of Fastjet as of Oct (KOSDAQ: 039200.KQ - news) . 31 according to Thomson Reuters (Frankfurt: 864655 - news) data.

Lonrho said in May that it was being bought out by Swiss billionaire Thomas Schmidheiny and Swiss investor Rainer-Marc Frey (Paris: FR0010588079 - news) .

Fastjet, backed by easyJet's billionaire founder Stelios Haji-Ioannou, has ambitions to become the first pan-African low-cost carrier and operates within Kenya, Tanzania, Ghana and Angola. ($1 = 0.6254 British pounds) (Reporting by Richa Naidu in Bangalore; Editing by Savio D'Souza)