Business
First day of dealings
First day of dealings.
About this update from Mercantile Ports & Logistics Limited
[{"type":"text","content":"\n RNS Number : 9900T SKIL Ports & Logistics Limited 07 October 2010 \n \n\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.\n \nThis announcement does not constitute, or form a part of, any offer or invitation to sell, allot or issue, or any solicitation of any offer to purchase or subscribe for, any securities, nor shall it (or any part of it) or the fact of its release, publication or distribution, form the basis of, or be relied upon in connection with, any contract or commitment for securities in any jurisdiction. Any such purchase or subscription must be made only on the basis of the information contained in the final admission document (\"Admission Document\") dated 4 October 2010 in connection with the admission of the ordinary shares of no par value in the capital of SKIL Ports & Logistics Limited to trading on AIM, a market operated by London Stock Exchange plc which may be different from the information contained in this announcement and contains additional information.\n \nSKIL Ports & Logistics Limited\n(\"SPL\" or the \"Company\")\nAdmission to AIM and First Day of Trading \n \nSKIL Ports & Logistics Limited (\"SPL\"), a new holding company established to develop, own and operate port and logistics facilities in India, is pleased to announce its admission to trading on AIM and commencement of dealings of its ordinary shares of no par value (\"Ordinary Shares\"), under the ticker symbol SPL.LN, at 0800 BST this morning.\n \nSPL is also pleased to announce that it has raised £76 million of new capital by way of a placing of 30,400,000 new Ordinary Shares (the \"Placing Shares\") at 250 pence per Ordinary Share (the \"Placing Price\"), the net proceeds of which will be used towards funding the equity requirement of a new port and logistics facility and to provide working capital for the Group as it develops its Project and future operations. The Company has a market capitalisation of £110 million based on the Placing Price.\n \nNikhil Gandhi, Chairman of SPL, said:\n \n\"This is an exciting day as we launch our new company and look to begin building one of India's most modern and efficient port and logistics complexes near the he...