Fairfax India Holdings Corporation (“Fairfax India” or the “Company”) has announced today that it has entered into an agreement with a syndicate of underwriters co-led by RBC Capital Markets, Scotiabank and TD Securities Inc., under which the underwriters have agreed to buy, on a bought deal basis, 12,766,000 subordinate voting shares (the “Subordinate Voting Shares”) at a price of US$11.75 per Subordinate Voting Share for gross proceeds of approximately US$150 million (the “Public Offering”).
Fairfax India Holdings Corporation announces net earnings of $66.4 million in the third quarter of 2016 ($0.62 net earnings per basic share) compared to net earnings of $18.3 million in the third quarter of 2015 ($0.17 net earnings per basic share), due to higher net unrealized gains on investments. Book value per basic share of $10.45 at September 30, 2016 increased from $9.50 at December 31, 2015.
Fairfax India Holdings Corporation (“Fairfax India”) announces today that the Toronto Stock Exchange (the “TSX”) accepted a notice filed by Fairfax India of its intention to commence a Normal Course Issuer Bid for its Subordinate Voting Shares, through the facilities of the TSX (or other alternative Canadian trading systems). Purchases will be made in accordance with the rules and policies of the TSX and Subordinate Voting Shares purchased will be cancelled.
Fairfax India Holdings Corporation (“Fairfax India”) announces that, through its wholly-owned subsidiary in Mauritius, it has closed its second tranche of investment into Sanmar Chemicals Group by funding $50 million.
Fairfax India Holdings Corporation (“Fairfax India”) is pleased to announce that it has completed a $225 million, 2-year secured credit facility with a syndicate of Canadian banks.
Fairfax India Holdings Corporation is pleased to announce that, through its wholly-owned subsidiaries (collectively, “Fairfax India”), it has completed its previously announced acquisition of approximately 51% of the outstanding shares of Privi Organics Limited (“Privi Organics”) for an aggregate consideration of approximately INR 3.7 billion (approximately $55 million at current exchange rates).
Fairfax India Holdings Corporation announces net earnings of $38.3 million in the second quarter of 2016 ($0.36 per basic share) compared to a net loss of $2.2 million in the second quarter of 2015 ($0.02 net loss per basic share) as the company continues to invest the funds it raised into Indian companies. Book value per basic share of $9.68 at June 30, 2016 increased from $9.50 at December 31, 2015.
Fairfax India Holdings Corporation is pleased to announce that, through its wholly-owned subsidiaries (collectively, “Fairfax India”), it has entered into a share subscription agreement with Privi Organics Limited (“Privi Organics”) and a share purchase agreement with existing shareholders of Privi Organics to acquire a total 51% equity ownership of Privi Organics for a consideration of approximately INR 3.7 billion (approximately $55 million at current exchange rates).
Fairfax India Holdings Corporation (“Fairfax India”) announces that, through its wholly-owned subsidiary in Mauritius, it has closed its first tranche of investment into Sanmar Chemicals Group (“Sanmar”) by funding $250 million.
Fairfax India Holdings Corporation announces net earnings of $0.7 million in the first quarter of 2016 ($0.01 per basic share) compared to net earnings of $4.0 million in the first quarter of 2015 ($0.06 per basic share) as the company deploys the funds it raised into Indian investments. Book value per basic share of $9.52 at March 31, 2016 increased slightly from $9.50 at December 31, 2015.