Northgate Technologies to raise US $26.5 million through preferential issue

Northgate Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on September 29, 2006, inter alia, has approved the following:

1. To raise USD 26.50 Million by way of preferential allotment of 24,47,062 Equity Shares of Rs 10/- each at a price of Rs 497.28/- per share to the following Foreign Institutional Investors:

i. M/s UBS Securities Asia Ltd A/c Swiss Finance Corporation (Mauritius) Ltd - 633,700 Shares

ii. M/s Macquarie Bank Ltd - 633,700 Shares

iii. M/s Copthall Mauritius Investments Ltd - 579,450 shares

iv. M/s India Capital Fund Ltd - 461,700 shares

v. M/s India Institutional Fund Ltd - 138,512 shares

2. To increase Authorized Share Capital of the Company from Rs 18 Crores to Rs 23 Crores.

Source : Equity Bulls

Keywords