Riga Sugar Company to issue 890000 shares

Riga Sugar Company Ltd has announced that the Board of Directors of the Company at its meeting held on February 12, 2011, has decided to issue upto 8,90,000 equity share of Rs 10/- each at price of Rs. 28 each (including premium of Rs. 18) to the promoters (upto 4,40,000 equity shares) and to other (4,50,000 equity shares) subject to approval of the shareholders and in accordance with SEBI (Issue of Capital & Disclosure Requirement) Regulations, 2009.

Further the Company has inform that the Board also convened Extra-Ordinary General Meeting of the Members of the Company to approve aforesaid matter on March 09, 2011.

The stock closed the day at Rs.24.45, up by Rs.1.50 or 6.54%. The stock hit an intraday high of Rs.27.15 and low of Rs.21.40.

The total traded quantity was 2995 compared to 2 week average of 4638.

Source : Equity Bulls

Keywords