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IPO News
Sep 4 2008 10:02AM
Austral Coke shares firm up after listing

MUMBAI, Sept 4 (Reuters) - Shares of Austral Coke & Projects Ltd <ACPL.BO><ACPL.NS> listed at 207 rupees on the BSE on Thursday, 6 percent higher from its issue price of 196 rupees a share.

The shares were trading at 293 rupees on the BSE at 9.57 a.m. (0427 GMT), after touching a high of 308.80 rupees.

The proceeds of the 7.26-million-share issue will be used for raising production capacity of low-ash metallurgical coke to 525,000 tonnes a year, from 375,000 tonnes a year now.

(Reporting by Prashant Mehra; editing by Sunil Nair) (([email protected]; +91 22 6636 9029; Reuters Messaging: [email protected])) Keywords: AUSTRAL LISTING/

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