OnMobile Global share price rises 7% after promoter extends time for share sale

OMSI, which entered into a purchase agreement with Jump Networks on September 13, 2019, plans to sell 19,000,000 shares

OnMobile Global share price rose 7 percent in the morning trade on November 29 after its promoter, OnMobile Systems Inc, and Jump Networks agreed to extend to December 20 the time period for the sale of shares.

The promoter plans to sell 19,000,000 shares at a price ranging from Rs 75.50 to Rs 78 per share.

OMSI and Jump Networks had entered into a share-purchase agreement on September 13, 2019.

The sale, if conducted, shall be undertaken within the price range and shall be subject to the conditions set out in the share-purchase agreement, it added.

At 1140 hours, OnMobile Global was quoting at Rs 35.75, up Rs 1.45, or 4.23 percent on the BSE.