India's Mediaone seeks shareholder OK for Rs. 1.5 billion financing

By Marisa Wong

Madison, Wis., Jan. 10 - Mediaone Global Entertainment Ltd. informed the Bombay Stock Exchange that its board of directors decided at a meeting on Jan. 9 to raise up to Rs. 1.5 billion, possibly through the issue of foreign-currency convertible bonds.

The board of directors is seeking shareholder approval for the proposed fundraising.

The Chennai, India-based entertainment company said it may raise the funds through an institutional placement or a rights issue or any combination of those methods.

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