Fine Organic Industries investment in JVC by way of acquisition of shares

The company has acquired 22,500 Ordinary shares at a par value of THB 100 per share (45%) in ‘Fine Organic Industries (Thailand) Co., Ltd’.

Jun 18, 2021 04:06 IST India Infoline News Service

Fine Organic Industries Limited has made an investment by way of the acquisition of 22,500 Ordinary shares at a par value of THB 100 per share (45%) in the new Joint Venture Company (JVC) ‘Fine Organic Industries (Thailand) Co., Ltd’.

New Joint Venture Company incorporated in Thailand for the purpose of carrying on the business of manufacturing of Speciality Chemical products and supplying, exporting and distribution of such products.

On May 6, 2021, the company had informed that Fine Organic Industries Limited (FOIL), Oleofine Organics Thailand Co., Ltd. (OFT) and Oleofine Organics Sdn Bhd. (OFM) had executed the Joint Venture Agreement for incorporation of a new Joint Venture Company (JVC) in Thailand.

Fine Organic Industries Ltd trade on Friday ended at Rs2,840.30 per piece down by Rs25.3 or 0.88% from its previous closing of Rs2,865.60 per piece on the BSE.

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