Asian Hotels to allot 6314815 FCPS

Asian Hotels Ltd has announced that the Share Allotment committee constituted by the Board of Directors of the Company shall meet on January 28, 2010 to issue 63,14,815 1% Fully Convertible Preference Shares (FCPS) of Rs. 10/- each for cash at a premium of Rs. 530/- per shares in terms of Clause 5.3 of the Scheme of Arrangement and De-merger approved by the High Court of Delhi vide its order dated January 13, 2010.

The stock was trading at Rs.479, down by Rs.22.15 or 4.42%. The stock hit an intraday high of Rs.500 and low of Rs.479.

The total traded quantity was 3387 compared to 2 week average of 3393.

Source : Equity Bulls

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