Dr Reddy's survives equity turmoil

The company has become the first Asian pharmaceutical company to list on the New York Stock Exchange.

Jackie Horne

April 12, 2001

In the face of exceptionally trying equity markets, India's third largest pharmaceuticals company has fulfilled its ambitions and in doing so, managed to achieve parity pricing for its debut ADR.

With Merrill Lynch as lead manager, an 11.5 million unit issue was priced yesterday (Wednesday) at $10.04 per unit. Each unit equals two shares, with the overall offering comprising about 18% of the company's share capital. ABN AMRO and CLSA are co-managers.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.