Fresenius Kabi extends fall after fixing floor price at discount

The floor price for the sale of shares fixed at Rs 80 per equity share,a 13% discount to Wednesday closing price.

Fresenius Kabi Oncology is trading lower by 3% at Rs 84.35, extending its previous day’s 6% fall after fixing a floor price for the sale of shares at discount to the current market price.

The 'floor price' for the sale of shares shall be Rs 80 per equity share, the company said in a filing.

The pharmaceutical company on Thursday has announced an Offer for Sale (OFS) by promoter through stock exchange mechanism for selling 11.86 million equity shares with an option to sell an additional 2.37 million equity shares aggregating to 14.24 million equity shares of face value of Re.1/- each of the company.

The sale shall take place at the separate window of the stock exchanges and shall commence on October 12, 2012 at 9.15 a.m. and shall close the same day at 03.30 p.m., it added.

The stock opened at Rs 84.90 and hit a low of Rs 82.40 on the NSE. A combined 68,819 shares have changed hands on the counter in morning trades on both the exchanges.