- Kerala high court clears CM Pinarayi in Rs 374 crore Lavalin scam case
- Infosys jumps 3% on buzz of Nandan Nilekani's return
- Gorakhpur tragedy: Top UP bureaucrat removed
- Karti Chidambaram appears before the CBI in the corruption case
- Kaifiyat Express derails in Auraiya district of UP, 74 injured
- Bypoll: Voting underway in Panaji and Valpoi Assembly seats
- Dhinakarans effigy burnt in Puducherry
Eros International prices follow-on equity offering at $14.50
MUMBAI: Eros International Plc (Eros), the overseas holding company of the Eros Group, has announced the pricing of its underwritten public offering of 7,000,000 A ordinary shares at $14.50 per share. Now that the pricing is set, the existing shareholder would mop up close to $102 million.
Eros, along with certain existing shareholder, is offering 7,000,000 A ordinary underwritten equity shares to general public shareholders. The offering consists of 6,675,000 equity shares offered by Eros and 325,000 shares offered by the selling shareholders.
Eros will not receive any proceeds from the sale of shares. In addition, Eros and an existing shareholder have granted the underwriters a 30-day option to purchase up to an additional 1,050,000 A ordinary shares in total, which will be equally split between Eros and the existing shareholder at the offer price minus underwriting discounts and commissions. The offering is expected to close on 15 July 2014.
BofA Merrill Lynch, Jefferies, Wells Fargo Securities and Macquarie Capital are acting as joint book running managers, and EM Securities is acting as co-manager for the offering.