The Listing of SKF’s Indian Subsidiary Continues
In February, 2005, SKF announced its intention to purchase the outstanding publicly held shares of its subsidiary SKF India Limited and to delist it from the stock markets in India. SKF presently holds 53.58% of the equity shares in the company.
The Reverse Book Building Process in accordance with the Delisting Guidelines has now come to an end and the result is that the shareholding level required for delisting has not been attained. In addition, SKF has not accepted the price per share tendered for the offered shares.
Consequently, the Process has been discontinued and business will be carried on as before.
Source: SKF Group