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Indian mining company led by Anil Agarwal, Vedanta Resources formally delisted from the London Stock Exchange (LSE) amid ongoing protests outside its final annual general meeting on Monday i.e. 01/10/2018.
Volcan Investments Ltd., which controlled by Anil Agarwal as Executive Chairman, had announced a successful buyout of the company’s shares last month.
Agarwal had previously stated that the purpose for the buy-out of the London listing was to simplify the company’s structure and claimed that a separate London listing was no longer critical due to the liquidity of Indian markets.
Vedanta Resources said in a statement, “Vedanta confirms that the listing of Vedanta Shares on the Official List of the UK Listing Authority and the trading of Vedanta Shares on the main market for listed securities of the London Stock Exchange has been cancelled with effect from 8.00 am today [01/10/2018].”
In July Volcan Investments Ltd announced a plan to acquire the 33.47% of Vedanta Resources, valuing the company at US$ 3.03 billion. The all-cash offer of 8.25 pound a share marked a 28% premium on the closing price of Vedanta Resources before the offer was announced.
