10 Oct 07 iGate Global Solutions delisting Offer Price
iGate Global Solutions today said that the parent company intends to buyback the shares of iGate Global Solutions and delist it from the Indian stock exchanges this december. The delisting of iGate Global Solutions is subject to the approval of the iGS shareholders and regulatory approval from SEBI. The delisting Offer Price will be decided through a reverse book building process. If iGate Global Solutions feels that the delisting Offer Price discovered through the reverse book building process is too high then it has the option to not accept the offer and cancel the delisting process. The floor price for the iGate Global Solutions reverse book building process will be taken as the 26 week average share price of iGate Global Solutions. The shares of iGate Global Solutions were up over 10% today on hopes that the delisting offer price discovered through the reverse book building process will be at a huge premium to the current market price of iGate Global Solutions.
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