Neha International to acquire IIoletta Roses Plc, Alliance Flowers Plc and Oromia Wonders Plc

Neha International has announced in reference to earlier announcement that the company is to acquire 100 % stake in all overseas Company, valued at Rs 41.32 crores, which has substantial stake in 3 Floriculture Units based in Ethiopia namely IIoletta Roses Plc, Alliance Flowers Plc and Oromia Wonders Plc, by way of Share Swap and Cash.

The company is planning for an Issue of Equity shares and Convertible Warrants: Further issue of 23 lakh Equity Shares, on preferential basis, to persons other than Promoters at Rs 42/- (inclusive of premium Rs 32/-) and 42.50 lakh Convertible Share Warrants, on preferential basis, to promoters and others, at a price of Rs 42/- (inclusive of premium Rs 32/-) as per SEBI Guidelines.

The stock closed the day at Rs.45.65, up by Rs.2.15 or 4.94%. The stock hit an intraday high of Rs.45.65 and low of Rs.42.10. The total traded quantity was 18000 compared to 2 week average of 7320.

Source : Equity Bulls

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