Invesco sells 5.5% stake in Zee for Rs 1,396 cr at Rs 263.7 a share

Invesco-owned entities on Tuesday sold its 5.51 per cent stake Zee Entertainment Enterprises (Zee). It sold nearly 53 million shares at Rs 263.7 apiece to mop up Rs 1,396 crore, data showed.

Morgan Stanley, Citigroup, Bank of America, Abvendus, ICICI Prudential MF were some of the buyers.

Prior to the stake stake, Invesco held 10.14 per cent in Zee.

Shares of Zee rose 2.79 per cent on Tuesday to end at Rs 270.65 on BSE.

In the recent past, Invesco and Zee promoters were at odds with each other over board composition and governance issues. Business Standard