Micro Technologies FCCB Bonds listed in Singapore Stock Exchange

Micro Technologies India Ltd has announced the listing of the Company on the Singapore Exchange for its Foreign Currency Convertible Bonds (FCCB). Singapore Exchange Ltd (SGX) is Asia-Pacific's first demutualised and integrated securities and derivatives exchange. Leveraging this success and with a commitment to provide efficient security solutions across different geographies to tap global opportunities, the Company launches today its platform in Asia and has chosen SGX as the first Asian exchange for its launch. The Standard Chartered acted as the lead managers to the issue and includes Lehman Brothers as one of the investors.

The listing of the Company in Singapore is a significant step forward as it represents the success of bringing IT based Security Products platform from India to other Asian countries and, more importantly, a new and unique investment tool to help investors and manage their wealth more efficiently. The Company is already listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for its equity shares and Luxembourg Stock Exchange for GDRs

As Exchange Traded Funds (ETFs) are becoming mainstream investment tool, the listing of the Company on SGX will broaden their suite of regional ETFs and allow investors to take advantage of the growing economies of India.

The stock was trading at Rs.256.40, up by Rs.5.95 or 2.38%. The stock hit an intraday high of Rs.257 and low of Rs.254.90. The total traded quantity was 5040 compared to 2 week average of 31740.

Source : Equity Bulls

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