21 March 2006
The London Stock Exchange today welcomed Noida Toll Bridge Company Limited to AIM.
Noida Toll Bridge Company Limited is the first publicly listed Indian incorporated company to issue securities on AIM.
The company is incorporated in India, formed to construct and operate the Delhi Noida Toll Bridge on a build, own, operate and transfer basis. The company’s principal business is to own and operate the bridge and generate revenues through the levy of toll charges. The company’s Ordinary Shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
Demand from international institutional investors for the GDRs was in excess of 3 times the gross amount raised through the Placing.
The company successfully raised US$45 million via a placing of 11,363,636 GDRs at a price of US$3.96 per GDR.
NTBCL is undertaking the issue of the GDRs in order to raise funds to diversify its shareholder base and enhance its corporate profile.
Mr Pradeep Puri, President & CEO of Noida Toll Bridge Company Limited said:
“We are delighted with the strong support we have received from international institutional investors during our GDR issue and are pleased to be joining AIM. The successful GDR issue will now enable the Company to focus on progressing and expanding the opportunities available to it.”