Swan Mills to consider raising funds on Feb 12, 2010

Swan Mills Ltd has announced that a meeting of the Board of Directors of the Company will be held on February 12, 2010, inter-alia, to consider increasing the Authorised Share Capital of the Company.

The Board will consider proposal to raise funds by further issue of securities in domestic / international markets through various instruments including Equity shares/warrants with non-convertible debentures under Qualified Institutional Placement (QIP) or Foreign currency convertible Bonds (FCCBs) or American Depository Receipts (ADRs) or Global Depository Receipts (GDRs).

The stock was trading at Rs.148.05, down by Rs.6.65 or 4.30%. The stock hit an intraday high of Rs.151.25 and low of Rs.147.

The total traded quantity was 26489 compared to 2 week average of 31912.

Source : Equity Bulls

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