Financial Daily from THE HINDU group of publications
Wednesday, Jul 13, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jul 13, 2005 |
|
|
|
|
|
Info-Tech
-
Stocks Patni board okays secondary ADS offer Our Bureau
Mumbai , July 12 THE board of directors of Patni Computer Systems Ltd has approved the proposal of sponsoring a secondary American Depository Shares Offering (ADS Offering) against equity shares held by its existing shareholders in India. The ADS Offering will consist of a maximum of 65,00,000 equity shares, including the over-allotment option, if any, as may be decided by the company in consultation with the underwriters of the offering, said a news release from the company. It has been decided to convene an extra-ordinary general meeting (EGM) of the members of the company on August 19, to seek approval for the ADS Offering, the release said. At an earlier annual general meeting held on June 19, the shareholders had approved the primary ADR offering of up to $150 million. Accordingly, the company is now proposing to do a combined offering consisting of primary and sponsored components, said the release.
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 | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, 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
|