Promoters to Hike Stake in FirstObject Technologies
FirstObject Technologies Ltd. is planning to issue shares to its promoters and strategic investors on preferential basis at Rs 45 per share to fund its expansions in e-learning initiatives and setting up facilities in SEZ.
Board of directors of the company are scheduled to meet on Feb. 18, 2010 to decide on the size of the issue. They will also to consider increase of promoters stake by 4.5% at the same preferential price.
Promoter Holding in the company stood at 13.67% as on December 2009.
Business Standard recently reported the company's plan to set up 150-seater facilities in 2 SEZs with an investment of $2.5bn.
FirstObject Technologies Limited is a provider of integrated business, technology and process solutions. It forayed into KPO business in 2008 and has active clients like Bloomberg, Reuters and Dowjones.
Transaction Reference: BS
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