Cubex Tubings Ltd allots 45,00,000 shares

The Board of Directors of Cubex Tubings Ltd at its meeting held on March 31, 2012, approved the allotment of 45,00,000 (Forty Five Lacs) Fully paid-up Equity shares of Rs. 10/- each at a premium of Rs. 5/- per share to the persons belonging to promoter group and non-promoter group, upon conversion of 45,00,000 number of warrants into equivalent number of equity shares by way of preferential allotment. The promoters' shareholding in the Company after such allotment on conversion of Warrants has increased from 34.70% to 39.22%.

The Cubex Tubings Ltd stock was trading at Rs.8.36, up by Rs.0.76 or 10%. The stock hit an intraday high of Rs.8.36 and low of Rs.8.35.

The total traded quantity was 1589 compared to 2 week average of 3392.

Source : Equity Bulls

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