ANG Auto repurchases $7 million worth FCCBs

ANG Auto Ltd has announced that the Company has repurchased Zero Coupon Foreign Currency Convertible Bonds (FCCB) worth USD 7.0 million of face value, listed on the Singapore Exchange Securities Trading Ltd., in accordance with the A.P. (DIR Series) Circular dated December 08, 2008 issued by the Reserve Bank of India. The cancellation and extinguishment of the same has been done as per the terms of the Offering Circular.

The stock closed the day at Rs.43.50, up by Rs.0.75 or 1.75%. The stock hit an intraday high of Rs.44.25 and low of Rs.43.

The total traded quantity was 5145 compared to 2 week average of 4270.

Source : Equity Bulls

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