Kazakhstan-based oil and gas services firm KazStroyService Plc has made an open offer to shareholders of Petron Engineering for acquiring a 20 per cent stake in the latter for Rs 27.13 crore.
The offer is to acquire 1,507,680 fully paid up equity shares, representing 20 per cent of the outstanding equity shares (with voting rights) at Rs 180 each, Petron Engineering told the BSE today.The offer would open on August 14 and would close on September 3, it added.
On June 19, promoters of Petron Engineering Construction had said that they have decided to sell their controlling stake to a Kazakh firm for an undisclosed amount.KazStroyServices Plc, bought the stake from Petron Investments, the holding company of Petron Engineering with 52.22 per cent stake.Shares of Petron Engineering closed at Rs 185.25, down 2.06 per cent on the BSE.
Showing posts with label Petron Investments. Show all posts
Showing posts with label Petron Investments. Show all posts
Wednesday, June 27, 2007
Tuesday, June 19, 2007
Petron Engg to sell stake to Kazakhstan firm
Petron Engineering Construction on Tuesday said its promoters have decided to sell their controlling stake to a Kazakh firm for an undisclosed amount.KazStroyServices, an oil and gas services company, bought the stake from Petron Investments, the holding company of Petron Engineering with 52.22 per cent stake.
Shares of Petron jumped nearly 20 per cent to hit its upper circuit limit and closed at Rs 227.15 on the Bombay Stock Exchange. The scrip opened firm at Rs 191 and rallied to touch its 52-week high with 10.05 lakh shares being traded.
Shares of Petron jumped nearly 20 per cent to hit its upper circuit limit and closed at Rs 227.15 on the Bombay Stock Exchange. The scrip opened firm at Rs 191 and rallied to touch its 52-week high with 10.05 lakh shares being traded.
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