Fresenius Kabi soars 5% on delisting buzz

Fresenius Kabi Oncology gained as much as 20 percent intraday on Wednesday after the company said parent company was looking for voluntary delisting of Indian arm. But the stock came off day's high on profit booking.

Fresenius suggested indicative price for delisting at Rs 130 per share. "If delisting fails, parent will sell stake for minimum public float," the company said.

Fresenius Kabi (Singapore) holds 81 perecnt in Fresenius Kabi Oncology as of December 31, 2012.

According to SEBI, every listed company has to comply with minimum public shareholding of 25 percent by June 2013.
 
At 14:37 hours IST, the stock was up 5.16 percent to Rs 133.60 amid hefty volumes on Bombay Stock Exchange.

Trading volumes increased 14 times to 9,68,439 equity shares as against five-day average of 68,687 shares.