AstraZeneca said that increase in promoter's ownership in the company will provide with greater operational flexibility to support the business.
AstraZeneca Pharma has fixed the floor price at Rs 854.1 apiece for delisting its shares from stock exchanges. Astrazeneca Pharmaceuticals AB, Sweden, holds 75 percent stake in AstraZeneca Pharma India.
Astrazeneca Pharmaceuticals AB, the promoter of the company has informed that the "floor price in relation to the delisting proposal has been fixed at Rs 854.1 per equity share," the company said in a filing to the BSE.
AstraZeneca said that increase in promoter's ownership in the company will provide with greater operational flexibility to support the business.
Last month, AstraZeneca Pharma had received by email a letter from the promoter proposing to make a voluntary delisting offer to the public shareholders from stock exchanges.
The company on March 18 had announced that its board approved delisting of the company's shares from bourses.
Shares of the company today closed at Rs 1,092.80 a share on the BSE.
AstraZeneca stock price
On April 11, 2014, AstraZeneca Pharma closed at Rs 1092.80, down Rs 1, or 0.09 percent. The 52-week high of the share was Rs 1285.00 and the 52-week low was Rs 634.00.
The latest book value of the company is Rs 39.90 per share. At current value, the price-to-book value of the company was 27.39.
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