Press Release16 Sept 2024, 03:07 pm
Proximus Opal Successfully Completes OFS, Reducing Route Mobile Stake to Below 75%
AI Summary
Route Mobile Limited announced that its promoter entity, Proximus Opal S.A., has successfully divested a 6.03% stake in the company through an Offer for Sale (OFS) on Sep 12 and 13, 2024. This was done to comply with the minimum public holding requirement of 25%. The OFS was oversubscribed and received strong participation from long-only marquee investors. Proximus Opal has reduced its holding in Route Mobile from 83.11% to below 75% and is compliant with the minimum public shareholding criteria. The move reinforces Route Mobile's growth strategy and commitment to delivering exceptional results.
Key Highlights
- Proximus Opal successfully divests 6.03% stake in Route Mobile through OFS.
- OFS oversubscribed, received strong participation from long-only marquee investors.
- Proximus Opal's holding in Route Mobile reduced from 83.11% to below 75%.
- Compliance with minimum public shareholding criteria as per SEBI regulations.
- Move reinforces Route Mobile's growth strategy and commitment to delivering exceptional results.