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West Pioneer Properties Ltd

  • BY: Andrew Hore |
  • POSTED: 29/04/2013 |

Fidelity has sold its 8% stake in Indian shopping centres developer West Pioneer Properties Ltd following the general meeting that agreed to the company leaving Aim.

Management had offered shareholders 11p a share in cash. The cash offer is available until 10 May.

West Pioneer wants to refloat on an Indian market via a new India-registered holding company. An Indian company will have greater flexibility in the type of developments it can get involved with.

At 10.25p a share, West Pioneer is valued at 8.2m.

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