Financial Daily from THE HINDU group of publications
Wednesday, May 25, 2005
Financial Daily from THE HINDU group of publications Wednesday, May 25, 2005 |
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Markets
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Stock Exchanges Corporate - Overseas Borrowings Apollo Hospitals eyes LSE, Luxembourg for GDR listing Our Bureau
Chennai , May 24 APOLLO Hospitals and Enterprises Ltd (AHEL), which is coming up with a $75 million GDR issue, will seek listing in either the London Stock Exchange or the Luxembourg Stock Exchange, company officials told shareholders today. Alongside the GDR issue, the company is also coming up with a $60 million sponsored GDR issue. Today, shareholders approved resolutions allowing AHEL management to go ahead with the GDR issues and also to issue 10 lakh warrants to the promoters. These warrants could be converted into equity shares at a price of Rs 334.15 each. Also approved was a resolution to raise the FII limit from 49 per cent to 74 per cent of the paid-up capital. It is expected that Schroder Capital Partners (Asia), a venture fund that has close to 20 per cent stake in AHEL, will exit the company, because the term for which it had agreed to stay invested in the company had come to an end.
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