India's Paramount plans up to $50 million offering of convertibles

By Angela McDaniels

Seattle, Oct. 23 - Paramount Communications Ltd. plans to issue up to $50 million of convertible securities, according to a company news release.

The offering, which was approved by shareholders at the company's extraordinary general meeting on Monday, may also include foreign-currency convertible bonds, Global Depositary Receipts or American Depositary Receipts.

Paramount manufactures telecommunications equipment and is based in New Delhi, India.

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