Visu International to raise US$20 Million

Visu International Ltd has announced that the Board of Directors of the Company at its meeting held on August 01, 2007, inter alia, has passed the following resolutions:

1. Approved the issue of Global Depositary Receipts (GDRs) / FCCBs Issue upto US$ 20 million.

2. Approved the Increase of Authorized Capital from Rs 52.00 crores to Rs 100.00 crores.

3. Decided to convene an Extra Ordinary General Meeting (EGM) of the members of the Company on August 31, 2007.

4. The Board has approved the draft notice of EGM to be sent to shareholders.

The stock closed the day at Rs.12.37, down by Rs.0.08 or 0.64%. The stock hit an intraday high of Rs.12.80 and low of Rs.12.30. The total traded quantity was 160882 compared to 2 week average of 231724.

Source : Equity Bulls

Keywords