Stocks

Open offer to Timex shareholders

Our Bureau Chennai | Updated on November 24, 2020 Published on November 24, 2020

Timex Group Luxury Watches BV, together with BP Horological Investors, LLC, BP Horological Holdings, LLC and Tanager Group BV, has made a mandatory open offer to shareholders of Timex Group India Ltd to acquire 2.53 crore shares, representing 25.07 per cent of the voting share capital, at ₹24.26 a share. Assuming full acceptance of the offer, the aggregate consideration payable to the public shareholders will be up ₹61.39 crore, the company said in a statement to stock exchanges. Shares of Timex group jumped 4.95 per cent to ₹26.50 on the BSE.

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Published on November 24, 2020
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