Financial Daily from THE HINDU group of publications
Saturday, Jan 07, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 07, 2006 |
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Markets
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Stocks Corporate - Overseas Borrowings NCC allots shares under GDR green shoe Our Bureau
Hyderabad , Jan. 6 NAGARJUNA Construction Company Ltd (NCC) has informed the stock exchanges that the executive committee of its board of directors at its meeting held on Thursday has accorded approval for allotment of 29.35 lakh equity shares underlying the global depository receipts (GDRs) under the green-shoe option facility exercised by the lead managers to the GDR issue. Each GDR represents one equity share of Rs 2 each and is priced at $5.11. The company had earlier priced its $105-million GDR issue at $5.11 a GDR (Rs 233.17) each, which represented one equity share of the company of a face value of Rs 2 per share. The company had granted a green shoe option to the lead managers for up to 14.3 per cent of the issue size amounting to $15 million. The GDRs issued by the company have been listed on the Euro MTF Market of the Luxembourg Stock Exchange, the IOB platform of the London Stock Exchange and on NASDAQ's Portal market, the company said.
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