Cox and Kings has soared 8% to Rs 152, after the travel and tour operator said that Citi Venture Capital International (CVCI), the private equity arm of Citigroup Inc. has agreed to invest $137.75 million in Prometheon Holdings (UK) Ltd, a subsidiary of the company.
In a filing to BSE, the company said that “Investment funds advised by Citi Venture Capital International (CVCI Private Equity) have entered into binding agreements to acquire a minority stake in its UK subsidiary Prometheon Holdings.”
The investment proceeds will be largely used to retire part of the debt raised recently by Prometheon for its acquisition in the UK, it added.
The stock opened at Rs 140 and hit a low of Rs 138 on the NSE. As many as a combined 1.74 million shares have already changed hands on the counter so far, against an average sub 0.50 million shares that were traded daily in past two weeks.
