UK firm picks stake in Deccan Chronicle

UK firm picks stake in Deccan Chronicle
PTI
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First Published: Fri, Jun 08 2007. 11 53 PM IST
Updated: Fri, Jun 08 2007. 11 53 PM IST
Mumbai: London-headquartered brokerage Swiss Finance Corp. has acquired 5.41 lakh shares of Deccan Chronicle Holdings, publishers of Deccan Chronicle newspaper, through the conversion of Foreign Currency Convertible Bonds (FCCBs) into equity shares. In a communique to the Bombay Stock Exchange, Deccan Chronicle said its share allotment committee in a meeting on Friday approved the allotment of 541,410 equity shares of Rs2 each (face-value) as per the terms of the bonds. The stock, which has gained 17% or Rs 32 in the last one month, has been one of the active media stocks during this period. In June, nearly 17.37 lakh Deccan Chronicle shares traded on the BSE.
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First Published: Fri, Jun 08 2007. 11 53 PM IST
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