Business Daily from THE HINDU group of publications
Monday, December 24, 2007
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Business Daily from THE HINDU group of publications Monday, December 24, 2007 |
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News Update as at 18.00 hrs (IST)
Info-Tech Mascon Global to raise $50 m through FCCBs MUMBAI: IT services provider Mascon Global on Monday said it would raise $50 million through issue of Foreign Currency Convertible Bonds (FCCBs). The board of directors of the company has approved the issuance of one lakh dollar FCCBs convertible into global depository receipts or shares, the firm said in a communiqué to the BSE. The currency exchange rate of the issued FCCBs would be decided in due course, it added. The board has approved to utilise the proceeds of the issue as per External Commercial Borrowing guidelines, the company said. The shares of the firm were trading at Rs 21, up 0.72 per cent, on the BSE. - PTI
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