UTV Software announces book closure of UTV Motions Pictures Plc in AIM

UTV Software Communications Ltd has announce the "book closure" of the initial public offering of it's subsidiary UTV Motions Pictures Plc (UTVM) incorporated in Isle of Man, on the Alternative Investment Market (AIM) of London Stock Exchange. UTVM has closed the book for allotment of 24,137,931 equity shares of US$ 0.05 each (comprising 23.17% of the post allotment equity) at US$ 2.90 per share aggregating to US$ 70 million.

UTVM has also retained a greenshoe option to further allot 2,528,735 shares at US$ 2.90 per share. Post issue of the greenshoe option, UTVM would in aggregate raise US$ 77.33 million with 25% dilution, the Company holding balance 75%.

The stock was trading at Rs.517, up by Rs.16.35 or 3.27%. The stock hit an intraday high of Rs.520 and low of Rs.504. The total traded quantity was 61295 compared to 2 week average of 145792.

Source : Equity Bulls

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