AstraZeneca shares soar 3 pct up as board approves delisting

Mar 18 2014, 21:28 IST
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SummaryAstraZeneca Pharma's stock ended the day 2.80 per cent higher at Rs 1,192.35 on the BSE.

Shares of AstraZeneca Pharma today rose by nearly 3 per cent as its board has approved delisting of the company's shares from bourses, including BSE and the National Stock Exchange.

AstraZeneca Pharma's stock ended the day 2.80 per cent higher at Rs 1,192.35 on the BSE. During the day, the scrip surged 7.63 per cent to Rs 1,249.

At the NSE, the stock settled at Rs 1,182, up 1.86 per cent from its previous close.

"...the delisting proposal received from AstraZeneca Pharmaceuticals AB, Sweden, the promoter of the company, vide their letter dated March 1, 2014, was considered and approved by the board of the company at its meeting held on March 15," AstraZeneca Pharma India said in a filing to the BSE.

Earlier this month, AstraZeneca Pharma had received proposal from AstraZeneca Pharmaceuticals AB for a voluntary delisting offer to public shareholders from BSE, NSE and Bangalore Stock Exchange.

Astrazeneca Pharmaceuticals AB holds 75 per cent in AstraZeneca Pharma India.

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