Fortis Healthcare approves FCCB issue of $30 million

The Board of Directors of Fortis Healthcare Ltd at its meetings held on November 27, 2012 and March 26, 2013 and as per the approval accorded by special resolution by the shareholders on January 15, 2013, the Issue Committee duly constituted by the Board of Directors of the Company has approved the issue of FCCBs up to US$ 30 million, to be listed on Singapore Exchange Securities Trading Limited, and has decided to launch the Issue.

The conversion price in respect of the issue of the FCCBs, is Rs. 99.09 per Equity Share of the Company, and the 'relevant date' for this purpose is July 23, 2013.

Shares of Fortis Healthcare Ltd was last trading in BSE at Rs.97.10, down by Rs.1.80 or 1.82%. The stock hit an intraday high of Rs.98.80 and low of Rs.94.05.

The total traded quantity was 0.60 lakhs compared to 2 week average of 0.46 lakhs.

Source : Equity Bulls

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