British American Tobacco p.l.c. (LSE:BATS) (BAT), the largest shareholder in India's ITC Limited (NSEI:ITC), is working with Wall Street banks Citigroup Inc. (NYSE:C) and Bank of America Corporation (NYSE:BAC) to help pare some of that stake and raise up to INR 210 billion ($2.5 billion), according to people with knowledge of the matter. This would translate to monetizing 3.5%-4% in ITC. However, no transaction will happen until the Reserve Bank of India (RBI) approves the move.
Market Closed -
Other stock markets
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5-day change | 1st Jan Change | ||
440 INR | +0.56% | +3.59% | -4.78% |
Apr. 25 | ITC Opens New Hotel in Sri Lanka | MT |
Apr. 24 | ITC to Hold Meeting of Ordinary Shareholders on June 6 to Approve Scheme | CI |
Stocks mentioned in the article
Price
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Change
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5d. change
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Capi.
| ||
---|---|---|---|---|---|
2,326 GBX | -0.47% | +0.69% | 64.43B | ||
440 INR | +0.56% | +3.59% | 65.87B | ||
EPS Revisions
1st Jan change | Capi. | |
---|---|---|
-4.78% | 65.87B | |
+7.54% | 74.51B | |
+14.60% | 47.11B | |
+2.30% | 7.29B | |
-6.70% | 5.99B | |
-4.50% | 2.43B | |
-6.03% | 2.27B | |
-29.73% | 1.79B | |
-3.67% | 1.36B | |
-11.55% | 1.17B |
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- British American Tobacco Reportedly Looks to Raise $2.5 Billion by Trimming Stake in ITC