Subsidiary IPO

RNS Number : 8423W

KSK Power Ventur PLC

17 June 2008

 



Immediate Release

17 June 2008

KSK Power Ventur plc

('KSK' or 'The Company')

Subsidiary IPO

KSK Power Ventur plc (AIM:KSK), the power project company listed on the AIM Market of the London Stock Exchange, with interests in multiple power plants across India,  is pleased to announce that further to its announcement dated June 5, 2008 regarding the successful completion of the pre-IPO funding of its Indian subsidiary, KSK Energy Ventures Limited (KSKEV) of 17.306 million equity shares of Rs.10/- each at Rs.240/- per share (equivalent to approximately USD 5.63 and raising approximately USD 97m), the company has filed with Registrar of Companies, Andhra Pradesh, India, the Red Herring Prospectus in connection with the IPO offering of KSKEV. The KSKEV IPO, offering 34,611,000 equity shares, will be open for subscription between Monday, June 23rd 2008 and Wednesday, June 25th 2008, at a price band of Rs.240/- to Rs.255/- per equity share. On completion of the IPO and allotment, the equity shares of KSKEV will be listed and traded on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited. 

KSK Power Ventur plc, which held 65%, prior to the pre-IPO will, on successful completion of the IPO, hold 55.249% of KSKEV.

Exchange rate conversion assumed at 1 USD=Rs.42.63

For further information please contact:

KSK Power Ventur plc	[phone]
S. Kishore, Executive Director
K.A.Sastry, Executive Director
Buchanan Communications	[phone]
Mark Edwards / Ben Willey
Arden Partners plc	[phone]
Richard Day / Adrian Trimmings

 

END

 

 

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