South Asian Petrochem repurchases 200 Zero Coupon Unsecured Foreign Currency Convertible Bonds

South Asian Petrochem Ltd has announced that the company had allotted 200 Zero Coupon Unsecured Foreign Currency Convertible Bonds (FCCBs) of US $ 1,00,000 each for an aggregate amount of US $ 20,000,000 on January 16, 2009. Out of this US $ 7,500,000 have already been bought back by the Company and informed vide letter dated October 24, 2009.

Out of the balance, Bonds amounting to US $ 5,000,000 Bonds have further been bought back by the Company on even date.

The stock was trading at Rs.12.25, up by Rs.0.33 or 2.77%. The stock hit an intraday high of Rs.12.80 and low of Rs.11.70.

The total traded quantity was 23307 compared to 2 week average of 97287.

Source : Equity Bulls

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