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Home » ORCHID PHARMA RAISES $75 M VIA GDRS
ORCHID PHARMA RAISES $75 M VIA GDRS
October 28, 2005
Orchid Chemicals & Pharmaceuticals Ltd has raised $75 million by way of global depository receipts (GDRs) and $37.5 million through the issue of convertible bonds.
The company raised the amount through the issue of 86.50 lakh GDRs amounting to $37.5 million, priced at $4.34 dollars each, it informed the Bombay Stock Exchange. The zero-coupon convertible bonds (FCCBs), convertible into equity shares at a premium of 25 per cent, have a tenor of five years.
The Hindu Business Line (http://www.thehindubusinessline.com/blnus/02281307.htm)
KEYWORDS Daily International Pharma Alert
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