Religare has confirmed to the stock exchange that it is in discussions with Hichens Harrison but has not disclosed the price at which an offer will be made. However, in a filing with the Alternative Investment Market in London where Hichens is listed, the firm confirmed that discussions with Religare are at a proposed offer price of ú2.85 $5.70 per share. Hichens has 17,383,273 issued shares so the offer price translates to an equity value of ú49.5 million $99 million.
Hichens Harrison is the oldest firm of stockbrokers in the City, in business since the early...
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