BWI: Nissan Copper Executes GDR Issue to Expand into Middle East and North Africa

Press release from Business Wire India
Source: Nissan Copper Limited
Monday, May 24, 2010 04:24 PM IST (10:54 AM GMT)
Editors: Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Household & personal care products & services, Stock exchanges
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Nissan Copper Executes GDR Issue to Expand into Middle East and North Africa


Mumbai, Maharashtra, India, Monday, May 24, 2010 -- (Business Wire India) -- One of India's leading manufacturers of semi-finished copper products and copper alloys, Nissan Copper Limited, have successfully concluded placement of 5,000,000 Global Depository Receipts at US$ 4.48 per Global Depository Receipt (Representing 25,000,000 Equity Shares of Rs. 10/- each).

Further, the company has approved and allotted 5,000,000 Global Depository Receipt and 25,000,000 underlying Equity Shares of Rs. 10/- each representing the said GDR. The GDRs will be listed on the Luxembourg Stock Exchange.

Speaking on this development, Ratan Mardia, Managing Director, Nissan Copper Limited stated, "We are looking to explore and expand into new markets in the Middle East and North Africa. This offering would support the funding of this business exploration and expansion."

About Nissan Copper Limited

Nissan Copper Limited is a leading manufacturer in semi-finished copper products. Established during 1989 with an objective to manufacture copper tubes they have extended their production into manufacturing copper ingots, coils, bus bars, strips, sections, profiles, flats, billets, bars, rods, tubes and pipes being used in diverse sectors.

Ever since its inception, the Mardia family has been instrumental in promoting and managing the business of Nissan Copper Limited. The company is listed on the Bombay Stock Exchange and the National Stock Exchange. Their quest for high standard quality products has enabled them to accredit themselves with the ISO 9001:2008 and the ISO 14001:2004 certification. The company supplies products to a wide list of clientele like Carrier, Voltas Ltd., Godrej, Mahanagar Gas Ltd., Manglore Refinery & Petrochemical Ltd., Siemens Ltd., Eletrotherm India Ltd., Mazagon Docks Ltd., Nutech Construction Pvt. Ltd. etc. The company has also started exporting to various countries like UAE, USA, UK etc. including the domestic market. For more information, please visit www.nissancopper.com.
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