L&T fixes GDS Price at US$ 100

Larsen & Toubro Ltd (L&T) has announced that the Company has priced its US$ 400 million Global Depositary Shares (GDS) offering represented by Global Depositary Receipts at US$ 100 per GDS. Each GDS represents one equity share of the Company of nominal value of Rs 2 each.

The issue was priced after market hours on November 06, 2007. The GDS are proposed to be listed on the Luxembourg Stock Exchange. Lehman Brothers International (Europe) and UBS Ltd are acting as the Joint Global Co-ordinators and Joint Bookrunners for the offering.

The Stock was trading at Rs.4204.95, up by Rs.79.25 or 1.92%. The stock hit an intraday high of Rs.4250 and low of Rs.4065.20. The total traded quantity was 189514 compared to 2 week average of 592970.

Source : Equity Bulls

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