Coal India shares slips 3.5% ahead of government share sale

Posted by On January 30, 2015 0 Comment

MUMBAI: Coal IndiaBSE -3.09 % Ltd shares fell 3.5 per cent in pre-open trading on Friday after the government said on Thursday that it would sell shares in the coal miner at a discount.

Government has priced the Coal India stake sale at a 4.5 per cent discount to the Thursday close, as it looks to lure buyers for the biggest ever offering in the local equity market.

The government will sell 315.8 million shares with an option to sell another 315.8 million in the auction, which will start at 9.15 am India time (0345 GMT) and end at 3.30 pm on Friday.

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Source:Economictimes

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