GlaxoSmithKline Pharma (GSK) is trading lower by 3% at Rs 2,969, in otherwise firm market, ahead of closure of the open offer made by the Britain-based parent company to acquire additional stake in Indian arm tomorrow.
The stock opened at Rs 3,039 and touched a high of Rs 3,039 on the BSE. Yesterday, the stock hit a 52-week high of Rs 3,054. A combined 50,000 shares have changed hands on the counter so far on the BSE and NSE.
GlaxoSmithKline Pte. Ltd. along with GlaxoSmithKline Plc proposed to acquire up to 20.6 million shares of GSK Pharma at Rs 3,100 per share. The open offer began on February 18 and will close March 5, 2014.
The London listed parent of GSK - GlaxoSmithKline Plc -which holds currently 50.67% stake in the Indian company, is aiming to invest Rs 6,390 crore to acquire stake in Indian company. The public shareholders held total 41.78 million or 49.33% stake in the pharmaceutical company.
Meanwhile, till yesterday, the share price of GSK has risen by over 23% since the open offer was announced on December 13.
The stock opened at Rs 3,039 and touched a high of Rs 3,039 on the BSE. Yesterday, the stock hit a 52-week high of Rs 3,054. A combined 50,000 shares have changed hands on the counter so far on the BSE and NSE.
GlaxoSmithKline Pte. Ltd. along with GlaxoSmithKline Plc proposed to acquire up to 20.6 million shares of GSK Pharma at Rs 3,100 per share. The open offer began on February 18 and will close March 5, 2014.
The London listed parent of GSK - GlaxoSmithKline Plc -which holds currently 50.67% stake in the Indian company, is aiming to invest Rs 6,390 crore to acquire stake in Indian company. The public shareholders held total 41.78 million or 49.33% stake in the pharmaceutical company.
Meanwhile, till yesterday, the share price of GSK has risen by over 23% since the open offer was announced on December 13.
