Company News

Syngenta India parent sets delist price at 730 rupees

MUMBAI, April 23 (Reuters) - Syngenta South Asia AG has set an exit price of 730 rupees a share to delist the shares of its Indian unit, Syngenta India Ltd. SYNG.BO, it said in a public announcement on Monday.

Shares in the company were up 20 percent, the maximum daily limit, at 625.20 rupees.

Syngenta South Asia said 2.26 million shares amounting to 7.1 percent of its Indian unit’s equity were tendered at or below a price of 730 rupees a share.

It had offered to purchase up to 5.09 million shares from the shareholders of Syngenta India to delist the shares from the stock exchange at a floor price of 351.81 rupees a share.

The parent said an application will in due course be made to the Bombay Stock Exchange to delist the shares of Syngenta India.