share purchase agreement (SPA)

Shares of Kiri Industries Ltd crashed 11% on 30 May after the company signed a Share Purchase Agreement (SPA) with Zhejiang Longsheng Group to sell its 37.57% stake in DyStar for a base price of $676.26 million. At the current currency rate, this amount is around Rs 5,765 crore, which is larger than the company’s…