The Hindu Business Line : Flextronics fixes Rs 725 to delist shares

MULTINATIONAL company Flextronics has fixed Rs 725 a share as the price to delist the securities of its Indian subsidiary Flextronics Software Systems from stock exchanges.

This price was decided based on the reverse book-building process where most of the shareholders offered their shares at this price, company said in a notice to stock exchanges.

Of the total issue size of 1.04 crore shares, with floor price of Rs 579 per share, the issue received bids for 59.17 lakh shares - i.e. 56.78 per cent of the issue size. The issue closed on Friday

On Monday, the stock price of the company rose 2.44 per cent at Rs 702.20 on the BSE.

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