1. FTIL shares soar on selling 27.3% stake in Dubai Gold Exchange for $11 mn

FTIL shares soar on selling 27.3% stake in Dubai Gold Exchange for $11 mn

Financial Technologies (India) shares jumped after the company announced that it has exited Dubai Gold Exchange by selling its 27.3 per cent stake for 11 million dollars (about Rs 75 crore) to Dubai Multi Commodities Centre (DMCC).

By: | Updated: January 29, 2016 4:27 PM
Financial Technologies

Financial Technologies (India) shares jumped after the company announced that it has exited Dubai Gold Exchange by selling its 27.3 per cent stake for 11 million dollars (about Rs 75 crore) to Dubai Multi Commodities Centre (DMCC). (AP)

Financial Technologies (India) shares jumped as much as 15 per cent on Friday after the company announced that it has exited Dubai Gold Exchange by selling its 27.3 per cent stake for 11 million dollars (about Rs 75 crore) to Dubai Multi Commodities Centre (DMCC).

At 11.49 am, shares of Financial Technologies (FTIL) were trading 10.80 per cent up at Rs 106.70. The scrip opened at Rs 101.90 and had touched a high and low of Rs 111 and Rs 101.90, respectively, in trade so far. Later, the scrip settled 9.03 per cent up at Rs 105.00.

In two separate transactions, Financial Technologies (India) and its wholly-owned subsidiary FT Group Investments Pvt Ltd, Mauritius (FTGIPL) would be selling the stake. FTIL and FTGIPL will sell 13 per cent and 14.3 per cent stakes, respectively.

In two different regulatory filings, the company informed that it has sold its 27.3 per cent stake in Dubai Gold and Commodities Exchange (DGCX) for 11 million dollars.

Promoters hold around 45.63 per cent stake in Financial Technologies as on September 30, 2015, while public held 54.37 per cent stake in the company.

  1. No Comments.

Go to Top