Biocon claims to take Syngene unit public by selling stake

Biocon claims to take Syngene unit public by selling stakeBengaluru, Jan 23 (ANI): Biocon Ltd would list its research services business arm Syngene by selling up to 15 percent stake in a public offer, the company said, after reporting third-quarter earnings on Friday (January 23). Biocon had previously said it planned to list Syngene but had not given a timeline. Late on Thursday (January 22), it said its board had approved starting the process of listing and hiring merchant bankers to sell 10-15 percent from Biocon’s majority stake in the unit in the public offer. Separately, Biocon agreed with Gilead Sciences Inc to licence its chronic hepatitis-C product range, it said in a statement.

Copyright 2000 © Finance solutions