NMDC's $1.2 billion share sale likely on Dec 13
MUMBAI (Reuters) - The government's share selldown in state-run miner NMDC Ltd(NMDC.NS) to raise roughly $1.2 billion is likely to be launched on December 13, three sources with direct knowledge of the situation said on Thursday.
The government, which owns 90 percent of NMDC, plans to sell a 10 percent stake in the company. All the sources declined to be named as they were not authorised to speak to the media.
Last week, the government raised about $147 million by selling shares of state-run Hindustan Copper Ltd.(HCPR.NS), kick-starting a stalled divestment programme that is crucial to reining in a ballooning fiscal deficit.
(Reporting by Sumeet Chatterjee; Editing by Anupama Dwivedi)
- Tweet this
- Share this
- Digg this
- Scots independence polls close, UK's future in the balance
- UPDATE 4-JetBlue flight makes emergency landing at California airport, 4 hurt
- UPDATE 1-Microsoft lays off 2,100, axes Silicon Valley research
- Islamic State releases video it says shows British journalist John Cantlie
- UPDATE 1-International country music singer George Hamilton IV dies at 77
China is not a warlike nation, President Xi Jinping said on Thursday, during a rare trip to neighbour India that was dominated by a standoff on a barren Himalayan plateau between soldiers from the world's two most populous nations. Full Article | Slideshow
Obama to nominate Indian-American Richard Verma as India ambassador - congressional source. Full Article