Financial Daily from THE HINDU group of publications
Wednesday, Mar 17, 2004
Financial Daily from THE HINDU group of publications Wednesday, Mar 17, 2004 |
||
|
|
||
|
Corporate
-
Overseas Borrowings Orchid Chemicals to raise $75 m through bond issue Our Bureau
Chennai , March 16 ORCHID Chemicals & Pharmaceuticals on Tuesday announced that its governing board approved a plan to raise up to $75 million through the issue of foreign currency convertible bonds to fund long-term growth. The board also increased the authorised share capital of the company to Rs 45 crore (Rs 34 crore). The company also plans to issue 20 lakh warrants to the promoters that would be convertible into equity shares as part of the fund raising programme. A company press release said money raised would be used to strengthen and diversify its expansion in the US market for generic medicines. An extraordinary general meeting has been scheduled for April 10, to seek shareholders' permission for the fund raising plan.
More Stories on : Overseas Borrowings | Pharmaceuticals
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|