Quint Digital shines on acquiring additional 2.35% stake in Lee Enterprises
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Quint Digital is currently trading at Rs. 115.00, up by 5.10 points or 4.64% from its previous closing of Rs. 109.90 on the BSE.
The scrip opened at Rs. 110.50 and has touched a high and low of Rs. 117.00 and Rs. 110.50 respectively. So far 14693 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 177.00 on 06-Oct-2023 and a 52 week low of Rs. 95.00 on 21-Apr-2023.
Last one week high and low of the scrip stood at Rs. 124.95 and Rs. 98.00 respectively. The current market cap of the company is Rs. 532.15 crore.
The promoters holding in the company stood at 58.66%, while Institutions and Non-Institutions held 7.45% and 33.89% respectively.
Quint Digital has acquired an additional 2.35% of the common stock of Lee Enterprises, Inc., an American Company. Consequent to the aforesaid acquisition, the shareholding of the Company in Lee Enterprises Inc. is 10.70%. The cost of acquisition is $1.55 million for acquiring additional 2.35% stake.
The shares were acquired through overseas stock exchange (NASDAQ) and form part of the current investment plan of the Company with view to reap the long-term/short-term strategic and investment benefits.
Quint Digital is primarily engaged in the business of running websites through web, digital or mobile media and which may include various information including current affairs, lifestyle, entertainment etc.
