Flex Industries exercises over-allotment option of FCCB Issue, raises US$85 million

Flex Industries Ltd has announced that the Company has exercised the over-allotment option in full and raised additional US$ 13 million by way of issuing Foreign Currency Convertible Bonds in the international markets. The Options has been exercised on March 21, 2007.

Elara Capital Plc. London has been the Lead Manager for the Issue.

The Board has issued Global Certificate representing US$ 13 million in aggregate principal amount of Bonds. With this the FCCB issue totalling US$ 85 million has now been successfully completed.

Source : Equity Bulls

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