Swiss firm to delist from stock markets

Written by fe Bureau | Updated: Jun 30 2010, 08:08am hrs
AstraZeneca Pharma India said on Tuesday that it will delist itself from domestic stock exchanges, fueling a jump of 20% in its share price to hit its all-time high at Rs 1,207.05. The board of directors gave its nod for making a voluntary delisting offer, received from its Sweden-based promoter, to public shareholders of the firm. The offer comes within weeks after the government made it mandatory for all listed companies to raise public shareholding to a minimum of 25%.