Sujana Towers to consider overseas issue to raise US$ 75 Million

Sujana Towers Ltd has announced that the Board of Directors of the Company at its meeting held on February 23, 2008, has approved the resolution for Issue of Foreign Currency Convertible Bonds (FCCB), Global Depository Receipts (GDRs) and / or American Depository Receipts (ADRs) for an Aggregate sum of US $ 75 million, subject to the approval of the members of the Company.

The stock was trading at Rs.163.05, up by Rs.5.65 or 3.59%. The stock hit an intraday high of Rs.169.20 and low of Rs.160.

The total traded quantity was 116154compared to 2 week average of 137450.

Source : Equity Bulls

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