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Gontermann Peipers OKs up to $50 million in convertibles
By Devika Patel
Knoxville, Tenn., Feb. 4 - Gontermann Peipers Ltd. informed the Bombay Stock Exchange that it approved a proposal to issue up to $50 million in foreign-currency convertible bonds at a board of directors meeting on Feb. 4.
The company also agreed to hold an extraordinary general meeting on March 7 to obtain shareholder approval for the bonds.
The company also is considering issuing Global Depositary Receipts, American Depositary Receipts and other convertible securities.
Based in Kolkata, India, Gontermann Peipers is a manufacturer of cast rolls and forged rolls for rolling mills.
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