Suven Pharma To Allot 128 Million Shares To Cohance Lifesciences Shareholders

Suven Pharmaceuticals Ltd. on Friday said it will allot 128 million equity shares to shareholders of Cohance Lifesciences Ltd. as part of their merger.

Shareholders of Cohance Lifesciences will receive 11 fully paid-up equity shares of Suven for every 295 shares held, the company said in an exchange filing.

This follows the recent approval of the merger, which took effect on May 1. On Wednesday, Suven Pharmaceuticals also announced a name change to Cohance Lifesciences, though it is yet to file an application with the stock exchanges.