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Fresenius Kabi (Singapore) Pte Ltd is planning to delist its Indian arm Fresenius Kabi Oncology (FKOL) by buying out 19% stake held by the public.
The company has received a letter from Fresenius Kabi (Singapore) Pte Ltd (FKSL) about its intention to make a voluntary delisting offer to the public shareholders of FKOL, Fresenius Kabi Oncology said in a filing to BSE.
Fresenius Kabi (Singapore) Pte Ltd holds 81% of the total stake in Fresenius Kabi Oncology.
FKSL intends to pay an indicative price of upto Rs 130 per share to acquire the scrips offered to it in the delisting offer, it added.
This is being done due to a change in the India strategy of the promoter entity, FKOL said.
"Delisting of FKOL will be a step towards FKSL obtaining full ownership of FKOL and enable integration of FKOL in Fresenius global operations," it added.
Shares of Fresenius Kabi Oncology today closed at Rs 134.20 on the BSE, up steep 5.63% from its previous close.
