Den Networks up on Goldman Sachs unit investment

Reuters Market Eye - Shares of Den Networks Ltd gain 0.7 percent to trade near their 52-week high of 238.90 rupees after a private equity fund unit of Goldman Sachs Group Inc agreed to invest $110 million in the cable distribution network company.

Den Networks will sell shares to the Goldman Sachs unit at 217.50 rupees each, the company said in an exchange filing on Monday, without specifying how many shares would be sold.

Den Networks will also raise money by selling shares to institutional investors at 217.23 rupeees each, according to the statement, which did not mention how much would be raised.

 

(Reporting by Indulal P)