Nissan Copper Executes GDR Issue to Expand Into Middle East and North Africa
Nissan Copper Limited, have successfully concluded placement of 5,000,000 Global Depository Receipts at US$ 4.48 per Global Depository Receipt.
Mumbai, India, May 24, 2010 --(PR.com)-- One of India’s leading manufacturers of semi-finished copper products and copper alloys, Nissan Copper Limited, have successfully concluded placement of 5,000,000 Global Depository Receipts at US$ 4.48 per Global Depository Receipt (Representing 25,000,000 Equity Shares of Rs. 10/- each).
Further, the company has approved and allotted 5,000,000 Global Depository Receipt and 25,000,000 underlying Equity Shares of Rs. 10/- each representing the said GDR. The GDRs will be listed on the Luxembourg Stock Exchange.
Speaking on this development, Ratan Mardia, Managing Director, Nissan Copper Limited stated, “We are looking to explore and expand into new markets in the Middle East and North Africa. This offering would support the funding of this business exploration and expansion.”
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Further, the company has approved and allotted 5,000,000 Global Depository Receipt and 25,000,000 underlying Equity Shares of Rs. 10/- each representing the said GDR. The GDRs will be listed on the Luxembourg Stock Exchange.
Speaking on this development, Ratan Mardia, Managing Director, Nissan Copper Limited stated, “We are looking to explore and expand into new markets in the Middle East and North Africa. This offering would support the funding of this business exploration and expansion.”
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Sharon Menezes
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http://www.goodrelations.co.in/index.htm
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