Firstobject Technologies proposes Preferential Issue at Rs 45 for expansion plans

Firstobject Technologies Ltd has announced that to meet the diversification and expansion requirements of Firstobject Technologies mainly for its e-learning initiatives and setting up facilities in SEZ, the Company is proposing to come out with a Preferential Issue @ price of Rs. 45/- Share to Promoters, Strategic Investors and Others.

The Board of Directors of the Company are scheduled to meet on February 18, 2010 to decide on the size of the issue and also to consider increase of promoters stake by 4.5% at the same preferential price and also to fix EGM date for the said purpose.

The stock was trading at Rs.26.90, up by Rs.1.25 or 4.87%. The stock hit an intraday high of Rs.26.90 and low of Rs.25.45.

The total traded quantity was 99446 compared to 2 week average of 69622.

Source : Equity Bulls

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