Sebi gives Pantone Finvest conditional exemption from an open offer for Tata Communications
SECTIONS
Share
Synopsis
Currently, 75% of the company is held by the promoters, while 25% is held by the public. The government is also a promoter in the company and holds about 26% stake, which it is planning to divest.
Agencies
NSE
Explore Now
The Securities and Exchange Board of India (Sebi) has given Pantone Finvest, a Tata Sons subsidiary, conditional exemption from an open offer for
Tata Communications in which the Centre is seeking to reduce its ownership.
Currently, 75% of the company is held by the promoters, while 25% is held by the public. The government is also a promoter in the company and holds about 26% stake, which it is planning to divest.
National Commercial Bank (NCB) announced Feb. 1 that, with respect to the bank’s merger with Samba Financial Group, the committee responsible for preparing the integration plan resolved that the proposed name (Saudi National Bank) shall be the new name of the merged bank upon the merger effective date, according to a bourse filing.
The bank also noted that the merger remains subject to obtaining the required regulatory approvals and the approvals of the banks’ shareholders.
Last month, the Saudi General Authority for Competition (GAC) approved the planned merger between the two banks.
On Oct. 11, 2020, NCB entered into a legally binding merger agreement with Samba, where both banks have now agreed to take the necessary steps to implement a merger in accordance with Articles 191-193 of the Companies Law and Article 49(a)(1) of the Merger and Acquisition Regulations issued by the Capital Market Authority, Argaam reported.
COVID store closures fail to dent retail giant, as big expansion plans on the cards
Updated 24 March 2021
March 24, 2021 00:58
JEDDAH: Saudi retail conglomerate Fawaz Abdul Aziz Alhokair Co. (Alhokair) announced earlier this month a partnership with shopping center operator Arabian Centers Company (ACC) to acquire a majority stake in UK-based e-commerce platform Vogacloset, in a deal worth SR68.85 million ($18.36 million).
With Saudi consumers stuck at home due to coronavirus travel restrictions and physical malls shut at various periods over the last 12 months, it is no wonder Alhokair is keen to buy into the Kingdom’s surging e-commerce sector.
In fact, in its full year report for 2020, it recorded a 311 percent surge in online activity in the first quarter of 2021 compared with the fourth quarter last year.
To embed, copy and paste the code into your website or blog:
Articulates Administration Policy And Creates New Made In America Office To Review Proposed Waivers Of “Made In America Laws”
On January 25, 2021, President Joseph R. Biden Jr. signed an Executive Order on Ensuring the Future Is Made in All of America by All of America’s Workers (the “Made-in-America E.O.”). According to the White House, the Made-in-America E.O. “directs a process for updating domestic preferences to fit the current realities of the American economy” and is designed to ensure “that when the federal government spends taxpayer dollars, they are spent on American made goods by American workers and with American-made component parts.” In remarks at the signing ceremony, President Biden stated that the Executive Order is designed to “get to the core issue with a centralized, coordinated effort.”
Cartrack targets Nasdaq listing
Introduction
Shareholders of Cartrack (“Cartrack Shareholders”) are referred to the cautionary announcements released by Cartrack on the Stock Exchange News Service (“SENS”) of the JSE Limited (“JSE”) on 09 September 2020, 22 October 2020 and 03 December 2020 wherein Cartrack Shareholders were advised that Cartrack had entered into negotiations and was exploring options with its controlling shareholder, Karooooo Pte. Ltd. (previously known as Karoo Pte. Ltd.) (“Karooooo”), wholly owned by the Cartrack founder and Group Chief Executive Officer, Mr Isaias Jose “Zak” Calisto (“Calisto”), which, if successfully concluded, may result in the restructuring of Cartrack and its subsidiaries (the “Cartrack Group”), (the “Cautionary Announcements”).