Syncom Healthcare concludes GDR placement

Syncom Healthcare Ltd has announced that the Board of Directors of the Company at its meeting held on September 03, 2010, inter alia, has successfully concluded the placement of 4,500,000 Global Depository Receipts (GDR) at USD 4.61 each underlying 22,500,000 equity shares of Rs. 10 (Rupees ten only) each at Rs. 43/- (Rupees forty three only) each to "The Bank of New York Mellon" in its capacity as a depository totaling to USD 20.745 mn.

Further the Board has also approved and allotted 22,500,000 Equity Shares of Rs. 10/- each representing 4,500,000 GDRs. The GDRs will be listed on the Luxembourg Stock Exchange.

The stock was trading at Rs.38.65. The stock hit an intraday high of Rs.39.20 and low of Rs.38.05.

The total traded quantity was 0.15 lakhs compared to 2 week average of 0.24 lakhs.

Source : Equity Bulls

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