Wipro updates on sale of preferred stocks of Harte Hanks Inc

In January 2018, Wipro and Harte Hanks Inc, a leading marketing services firm specialising in multi-channel marketing solutions, had signed a long-term partnership agreement to offer end-to-end marketing technology services to customers. As part of this agreement, Wipro LLC (a wholly owned subsidiary of Wipro Limited) had made a strategic investment of US$ 9,926,000 towards 9,926 convertible preferred stocks of Harte Hanks Inc.

Wipro LLC has signed a definitive agreement to sell its Series A Convertible Preferred Shares to Harte Hanks Inc by way of repurchase of shares for a total purchase consideration of US$ 9,926,000 in cash and 100,000 shares of Harte Hanks Inc, approximately 1.42% of the Company's common stock. The transaction is subject to certain closing conditions and is expected to close within 90 days from the date of signing the agreement.

Shares of Wipro Limited was last trading in BSE at Rs. 416.05 as compared to the previous close of Rs. 420.20. The total number of shares traded during the day was 569450 in over 7833 trades.

The stock hit an intraday high of Rs. 423.15 and intraday low of 415.00. The net turnover during the day was Rs. 237805722.00.

Source : Equity Bulls

Keywords

Wipro INE075A01022 StakeSale HarteHanksInc WIT