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Clariant Chemicals going to buyback 13.42% shares for Rs 340 crore

Picture Source: Internet

The board of Clariant Chemicals in the month of April in this year has approved the buy back of shares by tender route and the company has fixed the buy back price at Rs 950 per share.

Clariant Chemical in a BSE filing said, “the approval of the shareholders be and is hereby accorded to the proposal of buy back … up to 35,78,947 (representing 13.42 per cent of the total number of the equity share capital of the company) at the price of Rs 950 per equity share aggregating to Rs 340 crore.”

It also added that the Board of Directors, after considering several factors and benefits to equity shareholders have decided to recommended buy back offer.

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