Vedanta Resources PLC: Delisted Yet Uplifted

November 19, 2018

Vedanta Resources (VED LN) (Vedanta) was delisted from the London Stock Exchange (LSE) on 01-October-2018. This came on the back of Volcan Investments Ltd, controlled by Executive Chairman Anil Agarwal, successfully buying out the company’s shares in September. The privatization was more noticed by the market since it happened after a series of protests against the death of 13 people at Vedanta’s site in Tamil Nadu, India in May 2018. Between 01-October-2018 and 12-November-2018, the price of VEDLN 24s has dipped slightly from USD93.97 (ask) to USD91.84 (ask). This can be attributed to the delisting but does not imply a long-term change in prospects in our view as the company retains a robust business model.

 

Read more at : https://www.smartkarma.com/insights/vedanta-resources-plc-delisted-yet-uplifted

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