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Flextronics' reverse book-building evokes 12 pc response

Our Bureau

Mumbai , Aug. 31

FLEXTRONICS Software Systems' reverse book-building issue received lukewarm response on the first day with maximum bids coming at Rs 725 against the floor price of Rs 579.

On the first day, the issue received bids for 12.48 lakh shares (around 12 per cent of the issue size) compared to the issue size of 1.04 crore shares. Of these bids, 12.47 lakh shares were at Rs 725, according to BSE Web site.

The offer is by Flextronics Sales and Marketing, which is a group company of Flextronics of Singapore. The offer is made to de-list the securities of the company from stock exchanges. The issue closes on September 2.

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