Siemens stock down 4% on stake sale by parent company

Nearly 4 million shares of Siemens India unit, in which the parent has a 75 percent stake, are being sold to investors in the price band of Rs 649.15 to Rs 698 a share.

hidden September 12, 2012 11:37:10 IST
Siemens stock down 4% on stake sale by parent company

Shares in the Indian unit of Siemens fell as much as 3.7 percent on Wednesday after the German engineering conglomerate is looking to sell a 1.2 percent stake in a deal that could raise up to $50 million.

Siemens stock down 4 on stake sale by parent company

Reuters

Nearly 4 million shares of Siemens India unit, in which the parent has a 75 percent stake, are being sold to investors in the price band of Rs 649.15 to Rs 698 a share, according to the term sheet.

The Indian unit of Siemens was last down 3 percent at Rs 677.25.

Reuters

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