India's Refex Refrigerants OKs up to Rs. 2 billion convertibles sale

By Devika Patel

Knoxville, Tenn., Nov. 14 - Refex Refrigerants Ltd. informed the Bombay Stock Exchange that, at a meeting held on Friday, its board of directors decided to issue up to Rs. 2 billion in convertibles. Shareholders will vote on the proposal at an extraordinary general meeting.

Securities being considered are depositary receipts, foreign currency convertible bonds and other securities convertible into equity shares.

Based in Chennai, India, Refex Refrigerants refills non-ozone depleting refrigerant gases, known as hydro fluorocarbons, which are used in air conditioners, refrigerators and refrigerating equipment.

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