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Fortis Fin’s offer for 20% in Asian CERC opens 14 Sep

Fortis Fin’s offer for 20% in Asian CERC opens 14 Sep
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First Published: Mon, Sep 03 2007. 04 32 PM IST
Updated: Mon, Sep 03 2007. 04 32 PM IST
PTI
Mumbai: Fortis Financial Services said on 3 September its offer to shareholders of Asian CERC Information Technology for acquiring 20% in the company would open from 14 September.
Securities and Exchange Board of India (Sebi) issued comments on the draft letter of offer on 23 July, and therefore the dates with respect to open offer have undergone a change, Asian CERC said in a filing to the Bombay Stock Exchange.
As per the revised schedule, the offer would remain open from 14 September till 4 October. While as per the original schedule the offer was supposed to remain open from 12 October to 1 November 2006.
“All other terms and conditions of the offer remain unchanged,” the company added.
Fortis Financial made an open offer for over 24.76 lakh equity shares of Rs5 each representing 20% of the paid-up equity share capital of Asian CERC at Rs53.45 each.
For the quarter ended 30 June, Fortis Financial Services held over 36 lakh shares representing 32.4% stake in Asian CERC.
Shares of Asian CERC were trading at Rs167.30, up 1.21% while Fortis Financial Services was trading at Rs91, down 0.38% on the BSE in afternoon trade.
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First Published: Mon, Sep 03 2007. 04 32 PM IST