December 14, 2018:

On Thursday, share price of Fortis Healthcare plunged 14%  intraday after Supreme Court puts on hold stake sale to IHH Healthcare Berhad.

Northern TK Venture Pte together with IHH Healthcare Berhad and Parkway Pantai had made an open offer to the equity shareholders of Fortis Healthcare to acquire up to 19.7 crore shares, representing 26% of the expanded voting share capital, at a price of ₹170 per share payable in cash.

Daiichi then had moved Supreme Court in a contempt petition against Singh Brothers.

IHH Healthcare Berhad, a Malaysian firm holding 31.1% stake in the company.

At 11:06 AM Fortis Healthcare was quoting at ₹ 136.20, down ₹ 15.70, or 10.34% on the BSE.

Source Link

Picture Source :