Rediff.com Plans To Offer ADS At $15.86 A Piece To Raise $48 Million

Reuters: Rediff.com India Ltd. said it will offer about 3 million American Depositary Shares (ADS) at a price of $15.86 per ADS. The India-based Internet portal said in a news release it expected to raise $48 million from the offering, which is being underwritten by Deutsche Bank Securities. Shares in Rediff.com closed at $18.66 Tuesday on the Nasdaq.
Related:
Rediff’s Q2 Profits Jump Mainly Driven By India Revenues

Comments have been disabled for this post