Zee Shareholders Approve $330 Million Capital Raise Before Indian Regulator Bars Company From Markets
Shareholders of Indian media giant Zee Entertainment Enterprises Ltd. approved a promoter group fund infusion worth INR3143.5 crore ($330 million) and a new employee stock option plan at an extraordinary general meeting, a day before India’s securities regulator barred the company and two of its top executives from the market.
Reported by 1 outlet — Variety. See all sources ↓
Shareholders of Indian media giant Zee Entertainment Enterprises Ltd. approved a promoter group fund infusion worth INR3143.5 crore ($330 million) and a new employee stock option plan at an extraordinary general meeting, a day before India’s securities regulator barred the company and two of its top executives from the market. The Mumbai-headquartered media and technology company said its shareholders backed a preferential issue of 249,485,563 warrants to a promoter group entity, priced at INR126 ($1.32) each. A warrant gives its holder the right to convert it into a company share at a later date, at a price fixed now.
Read the full report at Variety ↗
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- What's the story?
- Shareholders of Indian media giant Zee Entertainment Enterprises Ltd. approved a promoter group fund infusion worth INR3143.5 crore ($330 million) and a new employee stock option plan at an extraordinary general meeting, a day before India’s securities regulator barred the company and two of its top executives from the market.
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- 1 outlet, average source rating 6.0/10.
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Zee Shareholders Approve $330 Million Capital Raise Before Indian Regulator Bars Company From Markets
Sources1TypeCoverageVariety