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Hanung Toys may issue $50 million in convertibles
By Devika Patel
Knoxville, Tenn., Aug. 30 - Hanung Toys & Textiles Ltd. notified the Bombay Stock Exchange that its board members have approved plans to raise $50 million in convertibles.
The members approved the proposal at an annual general meeting on Tuesday.
Securities may include American Depositary Receipts, Global Depositary Receipts, qualified institutional placements and euro convertible bonds.
New Delhi-based Hanung Toys manufactures and exports soft toys and home furnishings.
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