Financial Daily from THE HINDU group of publications
Tuesday, Dec 30, 2003
Financial Daily from THE HINDU group of publications Tuesday, Dec 30, 2003 |
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Corporate
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Preferential Allotments Shareholders of FCI OEN clear pref issue plan Our Bureau
Kochi , Dec. 29 SHAREHOLDERS of the Kochi-based FCI OEN Connectors Ltd have approved the preferential issue of equity shares of the company to foreign collaborator, FCI France. This will enable the collaborator to increase their shareholding from the current level of 62.87 per cent to 67.83 per cent, a press release from FCI OEN Connectors has said. As per the statutory guidelines in force in the country, the preferential shares are allotted at a price of Rs 151 per share. FCI France is the principal foreign promoter of FCI OEN in India. Increase in their equity stake signals their increased focus in India, the release said.
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