United Breweries rights share issue to raise $106 m
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N.Sukumar
Apr 24, 2008, 1:39:07 AM4/24/08
to Kences1
Mumbai: United Breweries Ltd, India's top beer maker, will raise Rs
425 crore from a rights issue of shares, it said late on Wednesday.
UB, maker of the popular Kingfisher beer, is issuing one rights share
for every nine shares held, at Rs 177 each.
The offer opens on April 30 and closes on May 29, it said. Ambit Corp
Finance Pvt Ltd is the lead manager to the issue.
Volatile stock markets have already forced top hotels operator Indian
Hotels Co Ltd to extend the close of its rights issue and push the
exercise of warrants to next year.
Indian Hotels' issue of 120.6 million shares to raise Rs 844 crore
closes on Thursday.
Top private carrier Jet Airways Ltd has also delayed its rights issue
of $400 million, which it now expects to launch by end-June.
India's benchmark index is down by more than a fifth from a record
high of 21,206.77 struck on Jan 10.
N.Sukumar
Research Analyst
425 crore from a rights issue of shares, it said late on Wednesday.
UB, maker of the popular Kingfisher beer, is issuing one rights share
for every nine shares held, at Rs 177 each.
The offer opens on April 30 and closes on May 29, it said. Ambit Corp
Finance Pvt Ltd is the lead manager to the issue.
Volatile stock markets have already forced top hotels operator Indian
Hotels Co Ltd to extend the close of its rights issue and push the
exercise of warrants to next year.
Indian Hotels' issue of 120.6 million shares to raise Rs 844 crore
closes on Thursday.
Top private carrier Jet Airways Ltd has also delayed its rights issue
of $400 million, which it now expects to launch by end-June.
India's benchmark index is down by more than a fifth from a record
high of 21,206.77 struck on Jan 10.
N.Sukumar
Research Analyst
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