简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:BENGALURU, July 25 (Reuters) - Tata Motors (TAMO.NS) said on Tuesday would cancel its A ordinary sha
BENGALURU, July 25 (Reuters) - Tata Motors (TAMO.NS) said on Tuesday would cancel its A ordinary shares, which would reduce the number of its overall outstanding shares by 4.2%, to simplify its capital structure.
The company will issue seven ordinary shares for every 10 A ordinary shares as consideration, implying a 23% premium on the previous days closing level of A ordinary shares, Tata Motors said in a regulatory filing.
The A ordinary shares were first issued by Tata Motors in 2008 and then via a share sale in 2010 and rights issue in 2015.
These class of shares currently trade at a 43% discount to the companys ordinary shares.
The automaker had in November announced plans to delist its American Depositary Shares from January, roughly around 18 years since they first started trading.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.