Kochi: The Cochin International Airport Limited will start issuing the rights share for around 18,000 shareholders from July onwards. A decision in this regard was taken during a director board meeting of the airport company held in Thiruvananthapuram on March 27.
“The issue of rights share at a proportion of 4:1 (one share per holding of four shares) and at a price of Rs.50 will commence once the State Budget for the fiscal 2014- 15 is passed in the Assembly. This is because the government, a majority stakeholder in the company, has to make a contribution of Rs.138 crore towards the rights issue,” company sources said.
A formal decision with regard to issuing rights shares was taken during the 20th annual general meeting of the company held last year in Kochi.
29/03/15 Hiran Unnikrishnan/The Hindu
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“The issue of rights share at a proportion of 4:1 (one share per holding of four shares) and at a price of Rs.50 will commence once the State Budget for the fiscal 2014- 15 is passed in the Assembly. This is because the government, a majority stakeholder in the company, has to make a contribution of Rs.138 crore towards the rights issue,” company sources said.
A formal decision with regard to issuing rights shares was taken during the 20th annual general meeting of the company held last year in Kochi.
29/03/15 Hiran Unnikrishnan/The Hindu
