Sterlite ADS issue priced at Rs 591.9/share
July 16th, 2009
Sterlite Industries has offered a follow on American Depository Share issue worth USD 1.5 billion. As per the US Securities and Exchange Commission filing, the ADS will result in a 17.4% equity dilution. The issue has been priced at USD 12.15 per ADS or Rs 591.90 per share.
Commenting on the ADS issue, Anil Agarwal, Chairman, Vedanta Group, said, “Our parent, Vedanta, intends to purchase ADSs in this offering either directly or through a subsidiary. Purchases will be made on the same terms and conditions as offered to the public and may account for USD 500 million of ADSs offered hereby.”