Fresenius Kabi To Delist At Rs 130 Per Share
Suparna / 17 Sep 2013
After the announcement, the company’s share price has risen by 4%, which indicates that its investors are not happy with the indicative price for delisting.
Six months after Fresenius Kabi received a delisting proposal from its promoter, the company has finally given a delisting offer to its public shareholders. The company announced on September 16, 2013 that it will buy 19% stake that is with the public at the moment at an indicative price of upto Rs 130 per share. This means that it will have to acquire a total of 3 crore shares from the public.
Following this announcement, the stock price has gone up by more than 4% to Rs 134. The stock is likely to gain further in the coming days as investors would like to get higher price from the company. The company itself looks quite in a good shape, except for an import alert on one of its manufacturing facilities.
At the indicative price of Rs 130, the company has valued itself at a TTM price-to-earnings multiple of 13.5x. The forward price-to-earnings ratio works out to be 12x. The stock is up 21% so far this year on the delisting buzz. As we have seen previously in the case of Fairfield Atlas, it is likely to show a positive run up going ahead.
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