Financial Daily from THE HINDU group of publications
Wednesday, Jul 13, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jul 13, 2005 |
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Corporate
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Overseas Borrowings Agri-Biz & Commodities - Rice REI Agro's $28-m FCCB issue Our Bureau
MUMBAI: Rei Agro, a basmati rice processing company, on Tuesday announced the placement of a $28-million Foreign Currency Convertible Bond (FCCB) with an additional 15 per cent green shoe option. An application has been made to list the FCCB on the Singapore Stock Exchange. The bonds issued are convertible into equity shares of Rs 10 each and is issued in denominations of $10,000 each. The equity shares on conversion will be listed on the BSE and the NSE. The lead manager for the issue was Jefferies International Ltd. REI Agro in its results for the quarter ended June 2005, with sales at Rs 301.3 crore compared to Rs 195.2 crore in the previous corresponding quarter. The profit after tax was up at Rs 15.9 crore during the quarter, against Rs 10.1 crore. The earnings per share in the quarter also increased to Rs 4.62 from Rs 3.28 last year. The board has proposed an interim dividend of 10 per cent to the equity shareholders.
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