Dishman board okays $50mn FCCB issue

The board of directors of Dishman Pharmaceuticals & Chemicals,  at its meeting held on May 08, 2005, has decided to issue unsecured Foreign Currency Convertible Bonds (FCCBs) up to $50 million with a right to retain the over subscription up to 20% of the FCCB issue.

According to a release issued by Dishman Pharma to the BSE, the board has given its consent to its managing director J R Vyas to appoint book runners.

The company's EGM will be held on June 03, 2005 to transact the special business relating to the issue of unsecured FCCBs, the release said.