Prime Focus is currently trading at Rs 49.70, up by 1.75 points or 3.65% from its previous closing of Rs 47.95 on the BSE.
The scrip opened at Rs 48.00 and has touched a high and low of Rs 51.50 and Rs 47.50 respectively. So far 1991640 shares were traded on the counter.
The BSE group 'B ' stock of face value Rs 1 has touched a 52 week high of Rs 51.50 on 25-Jun-2014 and a 52 week low of Rs. 23.75 on 05-Dec-2013.
Last one week high and low of the scrip stood at Rs 50.00 and Rs 38.15 respectively. The current market cap of the company is Rs. 919.67 crore.
The promoters holding in the company stood at 41.58% while Institutions and Non-Institutions held 5.74% and 52.68% respectively.
Prime Focus’ board of directors has approved the merger of its creative overseas subsidiary, Prime Focus World (PFW) with Double Negative (DNeg), one of the largest visual effects services providers to the global film industry. The company’s board of directors, in the meeting held on June 25, 2014, approved the merger.
The agreement will create the world’s largest independent VFX, stereo conversion and animation company serving the Hollywood film industry. The transaction will be supported by Standard Chartered Private Equity, Macquarie Capital and AIDCapital Partners, all existing investors in Prime Focus entities, and existing bankers across the Group.
Further, the company and its overseas subsidiary have received financing commitments and term sheets from multiple parties. However, transactions which would be subject to finalization and customary closing conditions, is expected to close in coming weeks.
Prime Focus is a global visual entertainment services group that provides creative and technical services to the film, broadcast, and advertising market. The group offers a genuine end-to-end solution from pre-production to final delivery including visual effects, 2D to 3D conversion, video and audio post production, equipment hire, multi-platform content operations solutions and digital distribution.
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