Financial Daily from THE HINDU group of publications
Wednesday, Dec 14, 2005
Financial Daily from THE HINDU group of publications Wednesday, Dec 14, 2005 |
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Markets
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Foreign Institutional Investors Merven cancels pref offer to Olympus Our Bureau
Hyderabad , Dec. 13 MERVEN Drug Products Ltd has informed the stock exchanges that its annual general meeting held on December 9 has declared cancellation of resolution for issue of 23.9-lakh equity shares of Rs 10 each of the company at a premium of Rs 110 per share proposed to the Mauritius-based Olympus Medica Holdings Ltd. However, the company did not provide the reasons for cancellation of issue of shares. The company said its shareholders have approved a resolution to issue 1-crore redeemable preference shares carrying a coupon of 7.5 per cent to Arch Financial Services (Bombay) Pvt Ltd, which would be redeemable within a period of 36 months.
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