KS Oils clarifies on news item regarding stake sale

With reference to the news item appearing in a leading financial daily titled "Actis, CLSA Capital eye stake in KS Oils", KS Oils Ltd has clarified to BSE that in August 2006, the Company has appointed PriceWaterhouseCoopers (PwC) as Principle advisor for fund raising activity of up to USD 20 Million, by way of placement of equity from financial and / or strategic investor as private equity.

The Company is in negotiation with various fund managers and financial investors for raising the Company's USD 20 Million by way of private placement of equity and at present the Company does not have any firm intimation from any Fund Manager, as and when the Company finalizes, the same will be intimated.

Source : Equity Bulls

Keywords