Himatsingka Seide raises US$60mn via GDRs
17 Dec 2005
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Mumbai: Textile company, Himatsingka Seide has raised US$60mn by way of global depositary receipts (GDRs), which will be listed on the Luxembourg Stock Exchange.
The company raised the amount through the issue of 2,09,64,360 GDRs, the company informed the Bombay Stock Exchange. The issue opened on December 12, 2005 and closed on December 15, 2005.
Each GDR, representing one underlying equity share, was priced at US$2.862 against the closing price of Rs139.85 per equity share on the NSE on December 15, 2005. The pricing of the GDR was in compliance with the ministry of finance guidelines dated August 31, 2005.
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