British American Tobacco to sell $1.36b stake in Indian tobacco maker ITC
Tobacco giant to offer up to 290m shares at base price of INR400 ($4.69) each
Last updated:
1 MIN READ
British American Tobacco Plc plans to sell a stake in Indian tobacco manufacturer ITC Ltd worth at least $1.36 billion.
The tobacco conglomerate offers as many as 290 million shares at a floor price of 400 rupees ($4.69) per share, according to terms seen by Bloomberg. The stake being offered accounts for as much as 2.3% of ITC’s outstanding shares.
BAT is ITC’s largest shareholder, owning about a quarter of the company, according to data compiled by Bloomberg.
Related Topics:
Get Updates on Topics You Choose
Up Next
