AstraZeneca shares spurt 9 pc on delisting proposal

Shares of AstraZeneca Pharma India today shot up by over 9 per cent as the company's board will meet tomorrow to consider delisting from various bourses, including the BSE and the National Stock Exchange.
At the NSE, the stock jumped 9.34 per cent to close the day at Rs 1,166.
The pharma company's stock zoomed 8.82 per cent to close at Rs 1,159.85 on the BSE. During the day, the scrip surged 9.99 per cent to Rs 1,172.40.
"The voluntary delisting proposal from AstraZeneca Pharmaceuticals AB, Sweden (AZP AB) in terms of their letter dated March 1, 2014 will be considered at the meeting of the board of directors of the company on March 15," AstraZeneca Pharma India had said in a filing to the BSE yesterday.

Earlier this month, AstraZeneca Pharma had received by email a letter from AZP AB Sweden, promoter of the company, proposing to make a voluntary delisting offer to the public shareholders from BSE, NSE and Bangalore Stock Exchange.
Astrazeneca Pharmaceuticals AB holds 75 per cent in AstraZeneca Pharma India.