Adani, Wilmar to Start Stake Sale in Joint Venture Next Month [Yahoo! Finance]
Jefferies Financial Group Inc. (JEF)
Last jefferies financial group inc. earnings: 10/25 04:42 pm
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Source: Yahoo! Finance
Most Read from Bloomberg The majority owners of Adani Wilmar are planning to sell a roughly 13% interest in the company — valued at about $736 million based on Monday's closing price - to comply with Indian securities laws, the people said, asking not to be identified discussing confidential information. Local regulations require at least a 25% shareholding should be with non-founders within three years of listing. Adani Wilmar's stock climbed 2.1% on the news, and closed 1.4% higher on Monday. The shares have advanced 3% this year, giving the company a market value of $5.7 billion. The broader gauge S&P BSE Sensex has risen almost 15%. Since the flagship of billionaire Gautam Adani's conglomerate and Wilmar hold almost 44% each in Adani Wilmar, this 88% overall shareholding needs to be pared down to 75% by February when the three-year grace period ends. The stake could be sold in one or two tranches by February and advisers will soon start meeting investors in the US, Southe
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JEF
Earnings
- 9/25/24 - Miss
JEF
Sec Filings
- 11/7/24 - Form 424B2
- 11/7/24 - Form 424B2
- 11/6/24 - Form 4
- JEF's page on the SEC website