AstraZeneca Pharma India has rallied 9% to Rs 1,209, extending its Monday’s 20% surge, ahead of its board meeting tomorrow to consider the delisting proposal received from the promoter.
AstraZeneca India said its board of directors received an email from the Swedish promoter AstraZeneca Pharmaceuticals on Saturday “proposing to make a voluntary delisting offer”.
The board of the company has been scheduled on March 05, 2014 to consider the delisting proposal and matters incidental hereto, it added.
The offer is with a view to delist the equity shares of the company from BSE, National Stock Exchange of India and Bangalore Stock Exchange.
AstraZeneca Pharmaceuticals holds 18.75 million equity shares representing 75% of the total paid-up share capital of AstraZeneca Pharma.
The company will have to buy at least 15% from the open market to complete delisting. Of the remaining 25%, about 15.52% stakes are with institutional investors.
Morgan Stanley Asia (Singapore) holds 3.77% in AstraZeneca India, D B International (Asia) 3.15%, Suffolk (Mauritius) 2.85%, BNP Paribas Arbitrage 2.40%, Mansfield (Mauritius) 1.73% and Merrill Lynch Capital Markets Espana 1.62%, the shareholding pattern data suggests.
The stock opened at Rs 1,238 and touched a fresh 52-week high of Rs 1,286 on the NSE. A combined 663,663 shares have changed hands on the counter so far on the NSE and BSE.
AstraZeneca India said its board of directors received an email from the Swedish promoter AstraZeneca Pharmaceuticals on Saturday “proposing to make a voluntary delisting offer”.
The board of the company has been scheduled on March 05, 2014 to consider the delisting proposal and matters incidental hereto, it added.
The offer is with a view to delist the equity shares of the company from BSE, National Stock Exchange of India and Bangalore Stock Exchange.
AstraZeneca Pharmaceuticals holds 18.75 million equity shares representing 75% of the total paid-up share capital of AstraZeneca Pharma.
The company will have to buy at least 15% from the open market to complete delisting. Of the remaining 25%, about 15.52% stakes are with institutional investors.
Morgan Stanley Asia (Singapore) holds 3.77% in AstraZeneca India, D B International (Asia) 3.15%, Suffolk (Mauritius) 2.85%, BNP Paribas Arbitrage 2.40%, Mansfield (Mauritius) 1.73% and Merrill Lynch Capital Markets Espana 1.62%, the shareholding pattern data suggests.
The stock opened at Rs 1,238 and touched a fresh 52-week high of Rs 1,286 on the NSE. A combined 663,663 shares have changed hands on the counter so far on the NSE and BSE.