Panama Petrochem raises $13.99 m via GDR issue

Our Bureau Mumbai | Updated on July 21, 2011 Published on July 21, 2011


Panama Petrochem Ltd said, its has received orders for 4,91,469 global depository receipts (GDR) at a price of $28.486 apiece. The issue closed on July 20, 2011.

The board of directors at its meeting held on Wednesday, allotted 24,57,345 equity shares of Rs 10 each in the capital of the company in favour of the overseas depositary.

Each GDR represents five underlying equity share in the company. The GDRs have been listed on the Luxembourg Stock Exchange.

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Published on July 21, 2011
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