ABG Shipyard to issue securities, raise funds

ABG Shipyard Ltd has announced that the Board of Directors of the Company at its meeting held on June 06, 2009, inter alia, has accorded their consent for issue of Equity Shares / Convertible Securities, including by way of Qualified Institutional Placement (QIP), subject to the necessary approvals.

Further the Company has informed that, the Board of Directors of the Company have decided to convene an Extraordinary General Meeting of the members of the Company for the above purpose on July 07, 2009.

The stock closed the day at Rs.226.55, down by Rs.9.15 or 3.88%. The stock hit an intraday high of Rs.240 and low of Rs.224.20.

The total traded quantity was 92105 compared to 2 week average of 183294.

Source : Equity Bulls

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