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India: Dishnet plans ADR issue.

Business Line

| February 09, 2000 | COPYRIGHT 1999 Kasturi & Sons Ltd. (Hide copyright information)Copyright

Rajesh Chandramouli, Jeyessomnath C. Nagarajan

CHENNAI, Feb. 8

DISHNET DSL Ltd of the Sterling group is set to access the American capital markets with a possible listing on Nasdaq. The company proposes to issue American depository receipts (ADRs) by August this year.

The size of the issue is $125-150 millions, according to reliable sources.

Sources told Business Line that JM Morgan Stanley has been appointed the lead manager and advisor to the issue.

Mr. C. Sivasankaran, Chairman of the Sterling group, did not wish to comment on the issue size and other related information stating "forward looking statements would be …

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