KBS Capital Management allots shares for GDRs

KBS Capital Management Ltd has announced that the Board of Directors of the Company at its meeting held on May 19, 2010, has issued and allotted 2,500,000 equity shares of par value of Rs. 10.00 each of the Company to enable the issuance of 1,250,000 global depositary receipts (GDRs).

Each GDR represents two underlying equity shares of Rs. 10/- each and issued at an offer price of US$ 1.95 per GDR.

The GDRs are proposed to be listed on Luxembourg Stock Exchange, Luxembourg.

The stock closed the day at Rs.39.90, down by Rs.0.85 or 2.09%. The stock hit an intraday high of Rs.39.90 and low of Rs.38.75.

The total traded quantity was 2000 compared to 2 week average of 930.

Source : Equity Bulls

Keywords