Prime Textiles shareholders approve Rs. 2.5 billion convertibles issue

By Laura Lutz

Des Moines, Sept. 11 - Prime Textiles Ltd. announced on Monday that its shareholders approved a possible convertibles issue at a general meeting on July 29.

The shareholders authorized the board to issue up to Rs. 2.5 billion of foreign currency convertible bonds or other convertibles. The securities may be convertible into equity shares, stock, global depository receipts, American depository receipts or other convertible or non-convertible securities.

Prime Textiles is a textile manufacturer based in Tirupur, India.

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