Essar Shipping Ports issues FCCBs worth $280,000,000

Essar Shipping Ports & Logistics Ltd has announced with reference to the FCCB issue, that the Company on August 17, 2010 has issued Foreign Currency Convertible Bonds (FCCBs) aggregating to USD 280,000,000 to be listed on the Singapore Exchange Securities Trading Ltd (SGX-ST) comprising of USD 150,000,000 5% Foreign Currency Bonds due 2015 convertible into ordinary shares, and USD 130,000,000 5% Foreign Currency Bonds due 2017 convertible into ordinary shares.

The stock was trading at Rs.105, down by Rs.3.05 or 2.82%. The stock hit an intraday high of Rs.109.45 and low of Rs.104.35.

The total traded quantity was 324466 compared to 2 week average of 4267565.

Source : Equity Bulls

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