Biocon has offloaded 10% stake in its research firm -- Syngene International through open market transactions. The buyers of the shares include Government of Singapore, Abu Dhabi Investment Authority, Monetary Authority of Singapore, ICICI Prudential Mutual Fund, Morgan Stanley Asia Singapore Pte and Norges Bank on account of the government pension fund global, among others.
The shares were sold at an average price of Rs 560 apiece, taking the transaction value at Rs 2,240 crore. Post the latest transaction, Biocon's shareholding has reduced to 54.6% from 64.56% stake in the company. Biocon had offloaded a 5.4% stake in Syngene International in September last year.
Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.
