Nectar Lifesciences opens GDR issue

Nectar Lifesciences Ltd has announced that pursuant to the approval received from the shareholders of the Company at the Extraordinary General Meeting held on February 11, 2010, the Company will open its GDRs Issue for subscription on February 26, 2010, and close on same day or as soon as the issue is fully subscribed.

The Company expects to raise US $ 34.96 million from this offering.

Each GDR represents one underlying share in the Company.

The stock closed the day at Rs.34.40, up by Rs.2.55 or 8.01%. The stock hit an intraday high of Rs.34.55 and low of Rs.32.

The total traded quantity was 190675 compared to 2 week average of 80664.

Source : Equity Bulls

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