Date:24/01/2006 URL: http://www.thehindubusinessline.com/2006/01/24/stories/2006012402490201.htm

Back Kinetic Motors pref allotment

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PUNE: Kinetic Motors recommends a preferential allotment of equity shares to Taiwan-based Sanyang Industry Co Ltd (SYM).

The company will issue 20,65,000 shares priced at Rs 66 each worth Rs 13.63 crore as per the SEBI guidelines. This will amount to SYM holding an 11.1 per cent (approx.) stake of the enhanced capital of Kinetic Motor Company Ltd. With SYM taking a minority stake, the management control will be retained with the Kinetic Group.