India AstraZeneca Set INR576.10 A Share Floor Price For Delisting

6th Jul 2010 14:06

MUMBAI (Dow Jones)--AstraZeneca Pharma India Ltd. (506820.BY) said Tuesday its founder AstraZeneca Pharmaceuticals AB has set a floor price of INR576.10 a share to buyout a 10% free float and delist the company. The Swedish parent has also set a tentative maximum price of INR1,152.00 a share. The indicative maximum price is not the ceiling price and public shareholders can offer their shares at higher prices, the Indian company said in a regulatory filing. AstraZeneca Pharma India added that it may modify the tentative maximum price. AstraZeneca Pharma India on June 29 received a delisting offer from its founder, which holds 90% of the company. Shares of AstraZeneca Pharma India closed 0.96% higher at INR1,339.00 on the Bombay Stock Exchange. -By Ameya Karve, Dow Jones Newswires; +91-22-6145-6121; [email protected] (END) Dow Jones Newswires July 06, 2010 09:06 ET (13:06 GMT)