Plethico Pharmaceuticals raises US$75 million through FCCBs

Plethico Pharmaceuticals Ltd on October 16, 2007 has announced that it has successfully priced an offering of US$ 75 million by issue of foreign currency convertible bonds.

The bonds have a zero coupon with tenor of 5 years and 1 day and are convertible into equity shares at a premium of 35% over the reference share price of Rs 447.95 (Closing price of the Shares on the National Stock Exchange Ltd on October 15, 2007).

Citigroup acted as the sole bookrunner to the transaction.

The stock was trading at Rs.445, up by Rs.5.30 or 1.21%. The stock hit an intraday high of Rs.455 and low of Rs.442.05.

The total traded quantity was 82259 compared to 2 week average of 78896.

Source : Equity Bulls

Keywords