Your English writing platform
Discover LudwigExact(3)
The move is designed to ensure Essar meets the UK listing authorities' minimum free float requirement of 25%.
The fund added: [We believe] the shares of Essar Energy represent exceptional value and will therefore only sell such minimum number of its shares in the company to enable Essar Energy to meet the minimum free float requirement.
Companies listed on the Nigerian stock exchange are required to have a minimum free float of 25%, Dangote initially listed 5% of shares.
Similar(57)
As well as a premium listing in London, the rules include an assigned nationality of UK, and minimum free floats of 25% of a company's shares for UK incorporated companies and 50% for non-UK incorporated companies.
European listings generally require a free float of 25percentt, while in the U.S. there is generally no minimum free-float requirement.
In the past, if a company had a minimum 20% free float, it was counted in an MSCI index at 80% of its market value.
Branson, who presides over an eclectic empire of music emporia, airlines and telecommunications, is also now considering reducing the free float to a minimum of 25%, as he believes the new price does not reflect Virgin Mobile's true value, the report said.
One example often brought up is Links Island, a maritime company whose stock the Singapore Exchange said had been "cornered" (reducing the free float below the required 10% minimum) during a period when the value of the stock rose fourfold in four months after its IPO in April 2000.
The average "free float" is 10-20%.
The revised indexes, however, will calculate the free float differently.
Admission: $20; two-drink minimum, free hors d'oeuvres.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com