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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (5323)	7/28/1999 8:44:00 AM
From: Mohan Marette	Read Replies (3) of 12475

ICICI for NYSE listing icici.com Date: 7/28/99 10:42:48 AM ICICI has dropped the proposal of making a GDR issues and has opted to issue American Depository Receipt (ADR). It is going for listing on the New York Stock Exchange (NYSE) within 6 months. With its 3 principal promoters (UTI, LIC, GIC) ICICI is planning a private placement of shares. ICICI will raise $500mn from both these issues. ICICI has to receive its shareholder's approval at its AGM to be held on July 30 after which the transaction between ICICI and the institutions will take place. UK-based Prudential may pick up a 10% stake in ICICI.

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