By Laura Lutz
Des Moines, March 13 - Origo Sino-India plc announced a private placement of ordinary shares with GLG Partners LP for about £17.1 million.
GLG agreed to buy 28,286,499 ordinary shares at an average price per share of about 60.4p.
Following settlement, GLG will own about 28.9 million, or about 29.6%, of Origo's outstanding ordinary shares.
Proceeds will be used for new portfolio investments, including co-investment opportunities with Origo Resource Partners Ltd., and for working capital.
Origo is a private equity investor and consultancy business with headquarters in Beijing.
| Issuer: | Origo Sino-India plc
|
| Issue: | Ordinary shares
|
| Amount: | £17.1 million (approximate)
|
| Shares: | 28,286,499
|
| Price: | 60.4p (approximate)
|
| Warrants: | No
|
| Investor: | GLG Partners LP
|
| Announcement date: | March 13
|
| Stock symbol: | London: OSI
|
| Stock price: | 62p at close March 13
|
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