EID Parry to delist GDRs from Luxembourg
30 Dec 2010
The board of directors of Muruguppa Group firm EID Parry India have authorised the company to delist its GDRs from the Luxembourg Stock Exchange.
"The Board of Directors have authorised the company to make necessary application to Luxembourg Stock Exchange to delist the company's GDRs listed in LSE," the company said in a filing to the Bombay Stock Exchange.
The company made its debut on LSE in 1994, and currently each GDR is trading at $6.07. According to information available on LSE, each GDR equals one ordinary share of Eid Parry.
The firm also said it has made an application to Madras Stock Exchange for delisting of its equity shares. The approval is pending, it added.
The company's equity shares will, however, continue to be listed on the National Stock Exchange and the Bombay Stock Exchange.
Eid Parry is engaged in manufacturing sugar and bio products among others.
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