HBL Power Systems to allot 1020445 shares to Citigroup

HBL Power Systems Ltd has announced that the Board of Directors of the Company at its meeting held on September 18, 2009, inter alia, has considered the issue and allotment of 10,20,445 equity shares of Rs. 10/- each at Rs. 340 per share (including the premium of Rs. 330/- per share) on preferential basis to M/s. Citigroup Global Markets Mauritius Ltd., subject to Members approval at the General Meeting.

The Company has called for an Extraordinary General Meeting (EGM) on October 20, 2009 to consider the above item.

The stock was trading at Rs.340, up by Rs.1.40 or 0.41%. The stock hit an intraday high of Rs.347 and low of Rs.340.

The total traded quantity was 2439 compared to 2 week average of 5013.

Source : Equity Bulls

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