Rhodia announces Open Offer for Sunshield Chemicals at Rs.51

Kotak Mahindra Capital Company Ltd ("Manager to the Offer") has announced that Rhodia Amines Chemicals Pte. Ltd. (“Acquirer”) along with Solvay S.A., person acting in concert (“PAC”) have launched an Open Offer to the Equity shareholders of Sunshield Chemicals Limited (“Target Company”) to acquire upto 19,11,796 Equity Shares of Rs 10/- (Rupees Ten Only) each Constituting 26% of the voting equity share capital of the Target Company (“Offer Size”), at a price of Rs 51/- (Rupees Fifty One Only) per fully paid share ("Offer Price"). in compliance with regulations 3(1) and 4 of the SEBI (SAST) Regulations.

The Sunshield Chemicals Ltd. stock was trading at Rs.43.95, up by Rs.2.05 or 4.89%. The stock hit an intraday high of Rs.43.95 and low of Rs.43.95.

The total traded quantity was 11278 compared to 2 week average of 3247.

Source : Equity Bulls

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