HONG KONG/MUMBAI, March 20 (Reuters) - A unit of Indian
compact disc maker Moser Baer India Ltd <MOSR.BO> is seeking to
raise about $150 million by listing on the Nasdaq exchange, two
sources familiar with the plan said on Thursday.
Morgan Stanley <MS.N> is among the underwriters appointed by
Moser Baer Photo Voltaic, which manufactures solar cells and
modules, for its U.S. initial public offering (IPO), the two
sources said.
The company has started the process and been working on the
deal for a few months, but may choose to wait given volatile
market conditions, added one source who had been briefed on the
plan but was not authorised to speak to the media.
A second source, who is familiar with the company's plans,
said an IPO may be a few months away.
Moser Baer Photo said in November it was seeking to invest
$150 million on expansion projects and was looking at an overseas
listing, though it had not provided details regarding the IPO.
"We are looking at all options to unlock value, but nothing
has been finalised as of now. We can't comment on any
speculation," said Moser Baer spokesman Deep Ghatak.
Morgan Stanley declined to comment.
(Additional reporting by Arpan Mukherjee in MUMBAI)
(Reporting by Rafael Nam in HONG KONG and Narayanan Somasundaram
in MUMBAI; Editing by Edwin Chan)
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Keywords: MOSERBAER IPO/