Fresenius Kabi Oncology rose 3.78% to Rs 133.05 at 13:27 IST on BSE after the company's promoter announced delisting offer to the public shareholders of the company.
The announcement was made after market hours on Monday, 16 September 2013.
Meanwhile, the BSE Sensex was down 29.42 points, or 0.15%, to 19,713.05.
On BSE, 83,000 shares were traded in the counter compared with average volume of 69,151 shares in the past one quarter.
The stock hit a high of Rs 136 and a low of Rs 128 so far during the day. The stock hit a 52-week high of Rs 154.20 on 30 July 2013. The stock hit a 52-week low of Rs 78.50 on 18 October 2012.
The stock had underperformed the market over the past one month till 16 September 2013, rising 2.15% compared with the Sensex's 6.15% rise. The scrip had also underperformed the market in past one quarter, rising 2.36% as against Sensex's 2.94% rise.
The small-cap company has an equity capital of Rs 15.82 crore. Face value per share is Re 1.
Fresenius Kabi Oncology said that its promoter, Fresenius Kabi (Singapore), has made a public announcement to the public shareholders of the company in respect of the proposed acquisition and consequent delisting of the fully paid-up equity shares of the company from the BSE and the NSE.
Fresenius Kabi (Singapore) is seeking to acquire up to 3 crore shares of the company, representing 19% of the total share capital, from the public shareholders. The floor price of the reverse book-building process is fixed at Rs 116.10 per share.
Fresenius Kabi (Singapore) will announce the discovered price and its decision to accept or reject the discovered price by 28 October 2013.
Fresenius Kabi (Singapore) had announced delisting plan in April 2013. The foreign promoter had then expressed its intention to pay an indicative price of up to Rs 130 per share to acquire the shares offered to it in the delisting offer. As on 30 June 2013, Fresenius Kabi (Singapore) held 81% stake in the company.
Net profit of Fresenius Kabi Oncology declined 63.19% to Rs 4.80 crore on 34.75% decline in net sales to Rs 80.95 crore in Q1 June 2013 over Q1 June 2012.
Fresenius Kabi Oncology develops, manufactures and markets anti-cancer products for critically and chronically ill patients.
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