Tyche Peripheral to raise US$ 12 Million through FCCB Issue

Tyche Peripheral Systems Ltd has announced that the Board of Directors of the Company at its meeting held on April 30, 2008, inter alia, has considered and approved the issue of Foreign Currency Convertible Bonds - Company has raised US$ 12 million (United State Dollars Twelve Million Only) through issue of Unsecured Foreign Currency Convertible Bonds (FCCBs) to International Investors. The Bonds shall be listed on he Singapore Stock Exchange and shall be convertible into equity shares of Rs 10/- each at a price of Rs 90/- per shares FCCBs carry Coupon Rate of 3% p.a. with YTM at 5.49% p.a. Compounded annually.

Elara Capital PLC London was the Lead Manager Global Coordinator and Book runner to the Issue.

Further the Company has informed that, a Meeting of the Board of Directors of the Company is called on May 07, 2008 to discuss issue of 30,00,000 Convertible warrants.

The Stock closed on Wednesday at Rs.92.50, up by Rs.2.65 or 2.95%. The stock hit an intraday high of Rs.94.30 and low of Rs.87.85.

The total traded quantity was 42336 compared to 2 week average of 14747.

Source : Equity Bulls

Keywords