Flex Industries to convert FCCBs into equity shares

Flex Industries Ltd has announced that one of the FCCB holders have exercised the option to convert the FCCBs into equity shares to the extent of US$ 1,000,000.

Accordingly, in terms of offering circular, the Company has allotted 253,942 equity shares of Rs 10/- each to the FCCB holder.

Shares of the company closed the day down at Rs.219, down by Rs.6.15 or 2.73%. The stock hit an intraday high of Rs.229.90 and low of Rs.218. The total traded quantity was 14586 shares compared to 2 week average quantity of 62529 shares.

Source : Equity Bulls

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