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Nasdaq-listed ReNew to go private
Financial Express Mumbai
|December 12, 2024
FOUR MAJOR INVESTORS in Nasdaq-listed ReNew Energy Global have offered to take the company private.
The group, which owns 64% of the fully diluted public shares, is offering other shareholders of the company whose market capitalization stood at $2.37 billion as of last close, $7.07 per share, a premium of 11.5% to the stock's last close.
The group comprises ReNew's founder and chairman, Sumant Sinha, Canada Pension Plan Investment Board, Abu Dhabi Investment Authority's subsidiary Platinum Hawk and Abu Dhabi Future Energy Company PJSC-Masdar. The move may be a precursor to a listing in India, sources said. "They could raise equity here or raise debt. However, no decision has been made," sources said.
Dit verhaal komt uit de December 12, 2024-editie van Financial Express Mumbai.
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