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ALLCARGO IPO OPENS JUNE 1 IN INDIA.

AsiaPulse News

| June 01, 2006 | COPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

MUMBAI, June 1 Asia Pulse - Allcargo Global Logistics's public issue is likely to catch investor attention, with the company's 49.99 per cent stake in a Belgium-based ECU Hold NV, a leading global non-vessel owning common carrier.

Allcargo, a Mumbai-based logistics service provider, is planning to raise Rs 1.3 billion $US28.1 million) to Rs1.5 billion from the capital market through its initial public offer of 2.79 million equity shares, scheduled to open on Thursday.

The company has set the price band at Rs 625-725 per share and the 100 per cent book-building issue will close on June 6.

According to the red herring prospectus filed with the Securities and Exchange Board of India earlier this month, Allcargo holds a 49.99 per ...

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Source: HighBeam Research, ALLCARGO IPO OPENS JUNE 1 IN INDIA.

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