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APSEZ surges on commencing cash tender offer for $650 million

16 Jul 2019

Adani Ports and Special Economic Zone is currently trading at Rs. 413.50, up by 4.20 points or 1.03% from its previous closing of Rs. 409.30 on the BSE.

The scrip opened at Rs. 409.30 and has touched a high and low of Rs. 414.70 and Rs. 407.85 respectively. So far 31764 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 430.00 on 23-May-2019 and a 52 week low of Rs. 293.95 on 30-Oct-2018.

Last one week high and low of the scrip stood at Rs. 419.10 and Rs. 402.40 respectively. The current market cap of the company is Rs. 85219.66 crore.

The promoters holding in the company stood at 62.30%, while Institutions and Non-Institutions held 34.19% and 3.49% respectively.

Adani Ports and Special Economic Zone (APSEZ) has commenced a tender offer to purchase for cash any and all of its outstanding $650 million 3.50% Senior Notes due 2020. The Tender Offer is being made pursuant to a Tender Offer Memorandum, dated July 16, 2019. The Tender Offer will expire on July 24, 2019, unless extended or earlier terminated as described in the Tender Offer Memorandum.

The company has offered the Tender Offer as part of a refinancing transaction pursuant to which the Consideration will be derived from a concurrent offering of new debt securities, on terms and conditions satisfactory to the Company, together with cash on hand.

APSEZ is part of Adani Group with businesses spanning coal trading, coal mining, oil & gas exploration, ports, multi-modal logistics, power generation & transmission and gas distribution. APSEZ represents a large network of ports with India’s largest Special Economic Zone (SEZ) at Mundra.

Related Adani Ports and Special Economic Zone Ltd. Links:

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