Gemini Communication Sponsored GDR Issue cancelled

Gemini Communication Ltd has announced that the Company had proposed by invitation to participate in sponsored GDR representing equity shares of the Company. The Invitation opening date was November 30, 2009. The said sponsored GDR issue did not go through and hence the Company have instructed its escrow agent and the registrar to return back the shares to the respective shareholders to their DP / Client ID with immediate effect.

The stock closed the day at Rs.40.70, down by Rs.2.10 or 4.91%. The stock hit an intraday high of Rs.40.70 and low of Rs.40.70.

The total traded quantity was 42216 compared to 2 week average of 173362.

Source : Equity Bulls

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