Sql Star board approves possible convertibles issue for up to $20 million

By Laura Lutz

Des Moines, Jan. 17 - Sql Star International Ltd.'s board moved approved a possible offering of convertibles at its meeting on Jan. 17.

The offering may include global depositary receipts, foreign currency convertible bonds, American depositary receipts or other securities. It could be made in the Indian or international markets.

When the meeting was scheduled on Jan. 8, the company announced a $15 million maximum size for the deal. On Jan. 11, consideration of the issue was moved to Jan. 17 from Jan. 23 because of time constraints.

The offering requires shareholder approval, which will be sought at an extraordinary general meeting on Feb. 12.

Sql Star is an information technology services company based in Hyderabad, India.

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