INEOS Styrolution freezes at 20% upper circuit on voluntary delisting plan

The board of directors of the speciality chemicals company is scheduled to meet on August 23 to consider the voluntary delisting proposal

Shares of INEOS Styrolution were frozen in the upper circuit band of 20 per cent at Rs 466 apiece on the BSE on Monday after the promoter proposed voluntary delisting of the equity shares of the company. It has fixed an indicative delisting offer price of Rs 480 per share.

The board of directors of the speciality chemicals company is scheduled to meet on August 23, 2019 to consider the voluntary delisting proposal. Shares of the company are listed on the BSE and the National Stock Exchange (NSE).

“The company has received a letter dated August 16, 2019 from INEOS