Subex to raise $1.5M through FCCBs

By agencies   |   Monday, 21 February 2005, 08:00 Hrs
Printer Print Email Email
NEW DELHI: Subex Systems Monday said it has received board of directors nod to raise $1.5 million through issue of Foreign Currency Convertible Bonds (FCCB).

The board of directors has allotted 2,30,769 equity shares of Rs 10 each at a premium of Rs 290 each to Merrill Lynch Capital Markets Espana S.A.SV to be converted as FCCBs of nominal value $1.5 million.

The company also informed that the board has accepted the resignation of former executive director Alex P J with effect from February 3, but he will remain as a director on the board of the company, it added.


SPOTLIGHT
IBM announces programme
n a bid to recognise the contribution of developers in the open source community, Information ..
Google's Gboard gets offline
Google is adding an Artificially Intelligent (AI) offline dictation feature on its Gboard keyb..
Facebook denies cyber attack
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suf..
Wipro opens third industrial
IT major Wipro Ltd on Thursday opened its centre of excellence for Industrial Internet of Things (..