FCI OEN delisting process gets over 6 lakh bids
FCI OEN Connectors says the delisting process of the company's shares from stock exchanges has received 691,878 bids.
By PTI |
MUMBAI: Circuit board manufacturer FCI OEN Connectors on Wednesday said the delisting process of the company's shares from stock exchanges has received 691,878 bids from shareholders.
After receiving the delisting offer from French firm FCI SA, the reverse book building process, a mechanism for determining the exit price, opened on July 9 and closed on July 13.
A total of 691,878 bids were received, out of which 601,928 bids were accepted while 89,950 bids got rejected, FCI OEN Connectors said in a filing to the Bombay Stock Exchange.
France's FCI SA had offered to buy the minority shareholders' stake in FCI OEN Connectors and delist the shares from the stock exchanges.
The French firm, parent of FCI OEN, has offered to buy up to 20 lakh shares, or 31.69 per cent, from minority shareholders at a floor price of Rs 391.38 a share.
Shares of FCI OEN Connectors closed at Rs 664.95, down 0.26 per cent on BSE.
After receiving the delisting offer from French firm FCI SA, the reverse book building process, a mechanism for determining the exit price, opened on July 9 and closed on July 13.
A total of 691,878 bids were received, out of which 601,928 bids were accepted while 89,950 bids got rejected, FCI OEN Connectors said in a filing to the Bombay Stock Exchange.
France's FCI SA had offered to buy the minority shareholders' stake in FCI OEN Connectors and delist the shares from the stock exchanges.
The French firm, parent of FCI OEN, has offered to buy up to 20 lakh shares, or 31.69 per cent, from minority shareholders at a floor price of Rs 391.38 a share.
Shares of FCI OEN Connectors closed at Rs 664.95, down 0.26 per cent on BSE.
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