INDIA: Heritage Foods buyback offer to close after poor response
Heritage Foods has encountered a poor response to its offer to repurchase its shares from the open market. The offer opened 24 January and is due to close 28 March [tomorrow]. The company had expected to repurchase up to 14 lakh (US$2.9bn) of shares from approximately 9,284 small shareholders. However, so far it has bought back just one lakh worth of shares.
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