Stocks

Petronet LNG shares slump 3.4%

Reuters | Updated on January 12, 2018 Published on June 08, 2017

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Shares of Petronet LNG fell as GDF is selling 10 per cent stake.

The stock fell as much as 3.4 per cent to their lowest in over two weeks.

GDF International is selling its entire 10 per cent stake, or 75 million shares, in Petronet LNG in block trades for up to $512 mln, according to a deal term sheet.

About 75 million shares change hands in three block deals on the BSE at around 9.18 am local time(0348 GMT), data showed.

GDF is selling shares in a price range of Rs 417-440 apiece, a nil-to-5.2 per cent discount to stock's Wednesday closing price of Rs 440.

Published on June 08, 2017
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