By IANS
New Delhi : Top production house UTV Software Communications Ltd Tuesday announced the book closure of the initial public offering of its subsidiary UTV Motions Pictures Plc (UTVM) on the Alternative Investment Market (AIM) of the London Stock Exchange.
UTVM, incorporated in the Isle of Man, has closed the book for allotment of 24,137,931 equity shares of $0.05 each, which comprises 23.17 percent of the post-allotment equity, at $2.90 per share aggregating to $70 million, a company release said here.
The UTV subsidiary has also retained a greenshoe option to further allot 2,528,735 shares at $2.90 per share.
After the greenshoe option, UTVM could raise $77.33 million with 25 percent equity dilution, with the company holding the balance 75 percent.