Eros STX Shares Touch Record Low Following Sale of STX Subsidiary

Dow Jones

Apr 27, 2022

By Stephen Nakrosis

Shares of Indian entertainment company Eros STX Global Corp. touched a record low on the New York Stock Exchange Tuesday, a day after the company said it completed the previously announced sale of its STX subsidiary named several new executives.

On Monday, the company said it named Rishika Lulla Singh as the new executive chairperson, Pradeep Dwivedi as the new chief executive and Rajesh Chalke as the new chief financial officer.

Also on Monday, the company said it was changing its name to Eros Media World PLC and would "target monetization of existing content library and new original series through global partnerships and distribution arrangements, with a focus on more profitable direct-to-consumer subscribers."

At 12:03 p.m. ET, the company's shares were trading 7.53% lower at $2.21 per share. Earlier in the session, the stock hit a 52-week low of $2.15 per share.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

$(END)$ Dow Jones Newswires

April 26, 2022 12:16 ET (16:16 GMT)

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