Styrenix Performance Materials’ shares rallied nearly 5% today following the company’s announcement of significant strategic moves. The Board of Directors approved the acquisition of INEOS Styrolution (Thailand) Co., Ltd. for $20 million. INEOS Styrolution Thailand is a prominent global supplier of specialty ABS, high-heat ABS, and SAN polymers, with a strong customer base across Southeast Asia and China. This acquisition is expected to enhance Styrenix’s position in the engineering polymers market and is projected to conclude by early 2025.
In addition to the acquisition, Styrenix has declared an interim dividend of ₹31 per equity share, equating to an impressive 310% payout. Shareholders eligible for this dividend will be determined based on the record date set for December 17, 2024.
To support its expansion plans, Styrenix is also incorporating a step-down subsidiary in Thailand, which will be wholly owned by its Dubai-based entity, Styrenix Performance Materials FZE. These strategic initiatives underline the company’s focus on growth, profitability, and global market leadership.
Styrenix Performance Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Fri, Dec 6 2024
|
₹2,734.00
|
₹2,757.55
|
|
|
Thu, Dec 5 2024
|
₹2,558.45
|
₹2,709.80
|
|
|
Wed, Dec 4 2024
|
₹2,532.00
|
₹2,513.40
|
-0.00%
|
|
Tue, Dec 3 2024
|
₹2,500.00
|
₹2,513.50
|
|
|
Mon, Dec 2 2024
|
₹2,521.00
|
₹2,504.25
|
-0.70%
|
|
Fri, Nov 29 2024
|
₹2,517.00
|
₹2,521.85
|
|
|
Thu, Nov 28 2024
|
₹2,503.00
|
₹2,517.05
|
|
|
Wed, Nov 27 2024
|
₹2,410.00
|
₹2,502.85
|
|
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