Polyplex raises its stake from 51% to 54.08%

14 Jun '16

1 min read

Polyester films manufacturer Polyplex Corporation has raised its stake, collective stake of Polyplex Thailand and subsidiary Polyplex Singapore, in the company from 51 per cent to 54.08 per cent, according to a company filing with the BSE.

The direct stake of Polyplex Thailand was 16.5 per cent and that of Polyplex Singapore was 34.5 per cent originally, making it a total of 51 per cent.

The rights offering of shares have been made by Polyplex Thailand at a price of Baht 6.5 per share.

Additionally, board of directors recommended a dividend of Rs 3 per share for fiscal 2015-16.

The company reported revenue of Rs 31,801.9 million in fiscal 2015-16. (MCJ)

ALCHEMPro News Desk - India

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