Mercator Lines redeems FCCBs

Mercator Lines Ltd has announced that the Company had originally issued 1.5%, Foreign Currency Convertible Bonds (FCCBs) aggregating US$ 60 million in the year 2005 which were listed on Singapore Stock Exchange (SGX). Out of the same, Bonds of aggregate amount of US$ 53 million were converted into equity shares pursuant to options exercised by the Bond holders.

Further the Company has informed that, the Company has redeemed the entire outstanding FCCBs of US$ 7 million on maturity on April 27, 2010.

The Bonds are being delisted from SGX.

The stock was trading at Rs.58.70, up by Rs.0.05 or 0.09%. The stock hit an intraday high of Rs.59.50 and low of Rs.58.50.

The total traded quantity was 222997 compared to 2 week average of 519396.

Source : Equity Bulls

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