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Satyam Computer prices ADS at $21.50 per share
By agencies
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Wednesday, 11 May 2005, 19:30 IST
MUMBAI:Satyam Computer Services Ltd has priced its sponsored secondary offering of 13 million American Depository Shares (ADS'), representing 26 million equity shares, at $21.50 per ADS.
The maximum size of the offering is 300 million equity shares. The underwriters have an option to purchase up to 1.95 million additional ADS', representing 3.91 million equity shares, within seven days of the pricing, the company informed the Bombay Stock Exchange on Wednesday.
The net proceeds after expenses of the offering would be returned to all the selling shareholders within 30 days of the closing of the offering and the company would not receive any proceeds of this offering, it said.
The company's invitation to participate concluded on May 3, 2005 with 51.4 million equity shares being offered for sale in the sponsored ADS offering, it said.