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News Update as at 18.00 hrs (IST)

Info-Tech
Subex to sponsor $36 million GDR issue

MUMBAI: Telecom software services firm Subex Azure Ltd said on Thursday that it would sponsor an issue of global depositary receipts worth $36 million to be listed on the London Stock Exchange.

Equity holders can tender shares which would be sold in the sponsored GDR offering. The company said 2.82 million GDRs would be issued at a nominal value of $12.76 each.

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