Sical Logistics to issue shares to Credit Suisse, Macquarie Bank

Sical Logistics Ltd has announced that the Board of Directors of the Company at its meeting held on June 12, 2007, has decided to issue equity shares on preferential basis under private placement basis not exceeding Rs 103 crores to the following select group of investors:

a. M/s. Credit Suisse Singapore Ltd : 20,50,000 - No of Equity Shares

b. M/s. Macquarie Bank Ltd : 20,50,000 - No of Equity Shares

The company is to convene an Extra-ordinary General Meeting of the equity shareholders on July 09, 2007 to seek their approval for the issue of equity shares on preferential basis.

The stock closed the day at Rs.247.40, down by Rs.4.95 or 1.96%. The total traded quantity was 9639 compared to 2 week average of 29282. The stock hit an intraday high of Rs.254.80 and low of Rs.240.

Source : Equity Bulls

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