Why would Goldman convert at such a premium...what was stopping it from purchasing from open market or not excercising this option in current markets?
On Fri, Oct 10, 2008 at 7:14 AM, ekam ber <[EMAIL PROTECTED]> wrote: > Goldman Sachs, the biggest independent Wall Street firm, has purchased an > additional Rs 35.75 crore worth stake in ICSA India, an embedded technology > and electrical infrastructure solutions provider for the power, oil and gas > sector. > > The warrants were converted at a price of Rs 227 each, which reflects a > premium of 28% on company's stock price. > > Goldman was allotted 1.75 million shares in ICSA raising the investment > banks' stake to 5.7 per cent. The group had paid 10% of the value earlier, > or at the time it was issued the warrants. > > Global financial services provider Goldman Sachs did this by exercising an > option to convert warrants into equity. > > The Group's move comes at a time when ICSA's stock has plunged 72% since > January and the benchmark Sensitive index has dropped 44 % in the period. > > ICSA is 51 per cent owned by foreign institutional investors. The company > designs and develops embedded solutions, infrastructure solutions, and > software applications for the power, gas, and water sectors in India. > > http://www.topnews.in/goldman-sachs-picks-additional-rs-35.75-crore-worth-stake-icsa-india-274666 > > When all other sins are old, greed still stays young. > French Proverb > > > > > > > > > > --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
