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HP to buy out Digital GlobalSoft
Monday, 01 December 2003, 20:30 IST
BANGALORE: Hewlett-Packard Inc. (HP) will buy out its Indian subsidiary, Digital GlobalSoft Ltd., by mid-January.
Hans Lidforss, HP vice president for strategy and corporate development, disclosed this Sunday via video-conferencing from London.
For a floor price of 
750 per share, the US-based HP has earmarked 10 billion to purchase 16.4 million Digital shares held by institutional and retail investors through the reverse book-building process.
About 30 percent of Digital's shareholders are institutional.
The floor price is said to represent a premium of 50 percent of the scrip's average price on the National Stock Exchange over the last 26 weeks.
The scrip is also listed on the Bombay Stock Exchange.
Digital GlobalSoft will be delisted from Indian bourses post-acquisition.
Source: IANS
750 per share, the US-based HP has earmarked 10 billion to purchase 16.4 million Digital shares held by institutional and retail investors through the reverse book-building process.
About 30 percent of Digital's shareholders are institutional.
The floor price is said to represent a premium of 50 percent of the scrip's average price on the National Stock Exchange over the last 26 weeks.
The scrip is also listed on the Bombay Stock Exchange.
Digital GlobalSoft will be delisted from Indian bourses post-acquisition.
Source: IANS