The stock of Fresenius Kabi Oncology surged 5.63 per cent to Rs 134.20 after the company informed the exchanges about parent's delisting proposal.
Fresenius Kabi (Singapore), promoter of the company, revealed its intention to make a voluntary delisting offer by acquiring the entire public shareholding, which stands at 3 crore shares. Currently, promoters hold 81 per cent stake in the company.
Fresenius suggested an indicative price for delisting at Rs 130 a share. “If delisting offer is not successful, it shall take steps to achieve compliance with the minimum public shareholding requirement of 25 per cent,” the company said.
According to SEBI norms, listed private companies have to comply with minimum public shareholding of 25 per cent by June.