Tuesday, February 20, 2007

BNP arm picks up over 5% in SpiceJet

Mumbai: Low-cost carrier SpiceJet today announced the allotment of 1.31 crore equity shares to BNP Paribas Arbitrage Fund as part of the scheme for preferential issue of 7.20 crore equity shares to a clutch of investors.
SpiceJet informed the BSE today that the allotment was for 5.43 per cent of the company, and the shares were purchased on February 1.
SpiceJet in December had announced the preferential issue to investors, including the Tatas. Allotments have been made to Ewart Investment, Istithmar PJSC, KBC Financial Products (UK), BNP Paribas Arbitrage Fund and Tata Investment Corporation.
The company has so far raised Rs 296.71 crore and issued 5.6 crore shares at Rs 52.69 apiece.
SpiceJet, which is expanding in the country, planned to mop up close to $80 million through the preferential issue. The response was, however, encouraging and it received offers exceeding $110 million.
19/02/07 The Telegraph