Sterling International completes GDR issue

Sterling International Enterprises Ltd has announced with reference to GDR issue, that the Company has on January 08, 2010, completed over allotment option and has raised USD 26.25 million by Issue of 2,760,426 Global Depositary Receipts (GDR's) at an offer price of USD 9.51 per GDR equivalent to 11,041,704, equity shares at Rs. 110/- per equity share. Each GDR representing 4 underlying Equity Share of Re. 1/- each. The GDR's are listed on Luxembourg Stock Exchange (LuxSE). The further GDR's will also be listed on Luxembourg Stock Exchange.

The stock closed the day at Rs.166, up by Rs.10.20 or 6.55%. The stock hit an intraday high of Rs.170 and low of Rs.155.

The total traded quantity was 48550 compared to 2 week average of 5485.

Source : Equity Bulls

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