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Market Closed -
Other stock markets
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5-day change | 1st Jan Change | ||
| 92.39 USD | +1.12% |
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+2.64% | +15.27% |
| 05-09 | Timken India Records Increase in Fiscal Q4 Net Profit; Shares Up 3% | MT |
| 05-07 | Timken Insider Sold Shares Worth $897,600, According to a Recent SEC Filing | MT |
HONG KONG (Reuters) - The Singapore-based parent of Timken India has proposed to sell an 8.4% stake in the Indian bearings and power transmission products maker for up to $231 million on June 20, according to the term sheet of the deal, seen by Reuters.
The floor price of the stake sale to institutional investors by Timken Singapore is set at 3,000 rupees a share, a 14% discount to Monday's closing level. BofA Securities is the sole bookrunner for the stake sale.
Timken Singapore owned a 67.8% stake in the Indian unit as of March 31, according to exchange data.
Shares of Timken India have risen over 12% so far this year.
(Reporting by Varun Vyas in Bengaluru and Scott Murdoch in Hong Kong; Editing by Nivedita Bhattacharjee)
By Scott Murdoch
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 3,799 INR | +1.86% | +13.61% | 3.36B | ||
| 2,734 PTS | +0.09% | -0.42% | - | ||
| 92.39 USD | +1.12% | +2.64% | 6.51B | ||
| 1st Jan change | Capi. | |
|---|---|---|
| +15.27% | 6.51B | |
| +14.92% | 86.04B | |
| +19.25% | 70.62B | |
| +18.36% | 36.93B | |
| +24.23% | 34.44B | |
| +8.20% | 27.97B | |
| +5.22% | 27.27B | |
| +7.20% | 27.11B | |
| +21.55% | 26.56B | |
| +19.44% | 25.25B |
THE TIMKEN COMPANY 