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Cox & Kings to raise up to $140 million

Tour operator Cox & Kings Ltd plans to raise up to $140 million from an institutional investor for its UK subsidiary, the company said in a statement.

Cox & Kings will issue shares to the investor for a minority stake in Prometheon Holdings (UK) Ltd, it said.

At 0423 GMT, shares in Cox & Kings, which also has operations in the United States, Australia, Germany, Hong Kong, Greece and Singapore, were down 2.55 percent at Rs 141.5 in a weak Mumbai market.

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