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Wednesday, March 5, 2014

AstraZeneca Pharma delisting

AstraZeneca Pharma Delisting:-
AstraZeneca is Sweden company.  Has decided again to delist stock. Details as below:-

AstraZeneca Pharma India Limited has informed BSE that promoters of the company are proposing to delist through Voluntary Delisiting offer and same is Informed on March 1st through Scanned copy from AstraZeneca Phamaceuticals AB Sweden .

To complete this process the company will shell out approx Rs 700 crore. To Complete delisting AstraZeneca has to buy 15% from open market. Company has 75 % holding with them and remaining 25% is with Investors. Out of 25% ,15.52% is with institutional investors.
Company has  total 6.25 million shares, 2.5 million are available to shareholders apart from the promoter’s holding.
Institutional Investors holding as below:-
1. Morgan Stanley Asia ,Singapore à 3.77 %
2. D B International Asiaà 3.15 %
3. Suffolk ,Mauritius à 2.85%
4. BNP Paribas Arbitrage 2.40%
5. Mansfield Mauritiusà 1.73 %
6. Merrill Lynch Capital Markets Espana à1.62 %
Company earlier tried 2 times to delist but failed  failed attempts are as below:-

In July 2004
In March 2003 company promoters increased their stake from 56.51% to 91.61% through two voluntary offers in 2002 and open market purchases. They offered price at Rs3,000 against the floor price of Rs825.

In March 2005
Promoters reduced the stake to 90% as per the SEBI guidelines at the time.
SEBI in June 2010, asking the promoters of listed companies to increase the public shareholding to a minimum 25% by June 2013.

In July 2010
Company announced a delisting offer with a floor price of Rs576.10 with a maximum acceptable price of Rs1,152. But stakeholders rejected the same.


In May 2013
Promoters reduced stake from 90% to 75% through an offer for sale (OFS) to institutional investors at Rs 620 per share. AstraZeneca had taken the OFS route to comply with the SEBI rule .

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AstraZeneca Pharma delisting

AstraZeneca Pharma Delisting:-
AstraZeneca is Sweden company.  Has decided again to delist stock. Details as below:-

AstraZeneca Pharma India Limited has informed BSE that promoters of the company are proposing to delist through Voluntary Delisiting offer and same is Informed on March 1st through Scanned copy from AstraZeneca Phamaceuticals AB Sweden .

To complete this process the company will shell out approx Rs 700 crore. To Complete delisting AstraZeneca has to buy 15% from open market. Company has 75 % holding with them and remaining 25% is with Investors. Out of 25% ,15.52% is with institutional investors.
Company has  total 6.25 million shares, 2.5 million are available to shareholders apart from the promoter’s holding.
Institutional Investors holding as below:-
1. Morgan Stanley Asia ,Singapore à 3.77 %
2. D B International Asiaà 3.15 %
3. Suffolk ,Mauritius à 2.85%
4. BNP Paribas Arbitrage 2.40%
5. Mansfield Mauritiusà 1.73 %
6. Merrill Lynch Capital Markets Espana à1.62 %
Company earlier tried 2 times to delist but failed  failed attempts are as below:-

In July 2004
In March 2003 company promoters increased their stake from 56.51% to 91.61% through two voluntary offers in 2002 and open market purchases. They offered price at Rs3,000 against the floor price of Rs825.

In March 2005
Promoters reduced the stake to 90% as per the SEBI guidelines at the time.
SEBI in June 2010, asking the promoters of listed companies to increase the public shareholding to a minimum 25% by June 2013.

In July 2010
Company announced a delisting offer with a floor price of Rs576.10 with a maximum acceptable price of Rs1,152. But stakeholders rejected the same.


In May 2013
Promoters reduced stake from 90% to 75% through an offer for sale (OFS) to institutional investors at Rs 620 per share. AstraZeneca had taken the OFS route to comply with the SEBI rule .