April 11 AstraZeneca Pharma India Ltd,
a unit of British drugmaker AstraZeneca Plc, said on
Friday the floor price for its delisting from the Indian stock
exchanges had been set at 854.1 rupees a share.
AstraZeneca said the delisting of the Indian unit and an
increase in its ownership would provide it with "greater
operational flexibility" to support the company's business in
the local market.
AstraZeneca Pharma India's stock has risen nearly 50 percent
from the year's low on Jan. 30 to touch 1,092.35 rupees on
Friday on delisting expectations, while the Mumbai market
rose roughly 12 percent in that period.
The Indian unit's board approved the delisting proposal on
(Reporting by Zeba Siddiqui in MUMBAI; Editing by Sumeet