Mediaone Global Entertainment to raise Rs.150 crore

The Board of Directors of Mediaone Global Entertainment Ltd at its meeting held on January 09, 2012, have decided to seek shareholders approval for raising funds by issue of equity shares at an appropriate premium up to an amount of Rs. 150 Crores by issuing shares to Qualified Institutional Placement, Foreign Currency Convertible Bonds, Rights Issue or all or any other mode as may be approved.

The approval of the shareholders will be obtained by a Postal Ballot as required under the law.

The Mediaone Global Entertainment stock was trading at Rs.91, down by Rs.1.05 or 1.14%. The stock hit an intraday high of Rs.96.95 and low of Rs.91.

The total traded quantity was 0.11 lakhs compared to 2 week average of 0.39 lakhs.

Source : Equity Bulls

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