finance.yahoo.com

Meta’s 9.9% Jio Stake Gets Regulatory Approval for Public IPO

Meta Platforms (Facebook) logoMeta Platforms (Facebook)
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Reliance Industries logoReliance Industries
Sig3.05Sen+2.25Env0.00Soc0.00Gov+1.20

India’s securities regulator approved Jio Platforms’ proposed $3.8 billion IPO, clearing a key hurdle for Meta Platforms’ 9.9% stake to move toward a public valuation. The IPO will issue 270 million shares, with about $3.3 billion earmarked for debt repayment at Reliance Jio Infocomm. Meta will not receive proceeds, with the focus on price discovery.

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