Madras Cements to issue bonus shares, India

Madras Cements to issue bonus shares, India
02 September 2008

Cement manufacturer Madras Cements tosay said it will issue bonus shares to the existing shareholders in the ratio of 1:1 and has decided to opt for stock-split.

The shareholders of the company took a decision to this effect at its annual general meeting held on August 11, the Tamil Nadu-based firm today said in a filing to the Bombay Stock Exchange.

The shareholders resolved to issue one fully paid bonus equity share for each share held by the existing members as on a date to be determined by the board of directors, it said.

The AGM also decided to subdivide the company’s Rs 10 each share into 10 shares of Re 1 each, it said.

The AGM also increased borrowing limit of the company to Rs 3,000 crore, it said.

Thai Siam Cement plans up to 20 bln baht bond issue

Siam Cement , Thailand’s biggest industrial conglomerate, said on Monday it planned to sell up to THB20bn (US$585m) worth of bonds with maturities of four years. The bonds would be partly sold to retail investors, the company said in a statement
Published under Cement News