FPO from Shipping Corporation to hit market on 30-11-2010 – 03-12-2010,
The Shipping Corporation of India (SCI) in a filing with the Bombay Stick Exchange announced that , the company will enter the capital market on November 30, 2010 with a FPO which would raise $320 million from the Market, through sale of 20% equity sale. The government will sell 10 percent equity while the company will issue another 10 prcent fresh equity. . The company has communicated to the Bombay Stock Exchange as per listing conditions that the bidding program for the follow on offer - Issue opens on November 30, 2010 and will close om for retail investors on December 03, 2010 The upper cap for small investors will be Rs 2 lakh.
The proceeds from the sale would be deployed to fund acquisition of nine vessels .
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