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Mumbai: Huber Group, a leading global player in the offset and packaging inks sector, has accepted shares tendered under the delisting offer made to shareholders of printing inks maker Micro Inks, a release issued here said.
The Huber Group will now make a final application for delisting of shares from stock exchanges, the release said. This is the first successful transaction under the revised delisting regulations issued in June 2009, it said. Kotak Investment Banking acted as the manager to the delisting offer.
The discovered price under the reverse book-building was Rs 640 per share, which is a premium of 22 per cent to the pre-announcement price of Rs 525 per share. This is in contrast to the average premium of 39 per cent over the pre-announcement price paid on successful transactions (above Rs 100 crore), the release said.
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