Ushdev International announces rights issue

February 19th, 2008 - 3:36 pm ICT by admin  

Mumbai, Feb 19 (IANS) Ushdev International Ltd, part of the Ushdev group that deals in imported pig iron, steel scrap and non-ferrous metals, said Tuesday that it has recommended a rights issue in the ratio of one equity share for two already held. The shares will be issued at a premium of Rs.90 per share, subject to approval by shareholders.

In its communication to the Bombay Stock Exchange, the company said its board of directors took the decision in a meeting held Feb 18.

Each share offered will have one detachable warrant to be converted into one share of Rs.10 each at a premium of Rs.90 per share.

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