<span id="midArticle_start"/> Novartis India Ltd said on Thursday it was not aware of any plan by its parent todelist its shares from the Bombay Stock Exchange, after a newsreport said its Swiss parent was considering taking the armprivate.
<span id="midArticle_0"/>Earlier on Thursday, Bloomberg reported citing people withknowledge of the matter that Swiss drugmaker Novartis AG, which owns three quarters of Novartis India, wasconsidering buying all the shares it didn't already own in thearm.
<span id="midArticle_1"/> <span class="first-article-divide"/>"The board of the company has not received any notice fromthe promoters of the company, Novartis AG, on its intention todelist the equity shares of the company from the Bombay StockExchange Limited," Novartis India said in a statement aftertrading hours.
<span id="midArticle_2"/> <span class="second-article-divide"/> <span class="third-article-divide"/>Novartis India shares closed 15.7 percent higher at 838.60rupees. The stock jumped as much as 20 percent, its maximumdaily limit, during trade. (Reporting by Zeba Siddiqui in Mumbai; Editing by PrateekChatterjee)
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<span id="midArticle_0"/>Earlier on Thursday, Bloomberg reported citing people withknowledge of the matter that Swiss drugmaker Novartis AG, which owns three quarters of Novartis India, wasconsidering buying all the shares it didn't already own in thearm.
<span id="midArticle_1"/> <span class="first-article-divide"/>"The board of the company has not received any notice fromthe promoters of the company, Novartis AG, on its intention todelist the equity shares of the company from the Bombay StockExchange Limited," Novartis India said in a statement aftertrading hours.
<span id="midArticle_2"/> <span class="second-article-divide"/> <span class="third-article-divide"/>Novartis India shares closed 15.7 percent higher at 838.60rupees. The stock jumped as much as 20 percent, its maximumdaily limit, during trade. (Reporting by Zeba Siddiqui in Mumbai; Editing by PrateekChatterjee)
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