Transworld Infotech members approve up to $300 million in convertibles

By Devika Patel

Knoxville, Tenn., Dec. 31 - Transworld Infotech Ltd. informed the Bombay Stock Exchange that its members approved an issue of up to $300 million in convertible bonds at an annual general meeting on Dec. 31.

The company said on Dec. 6 it planned to issue the convertibles with a 15% greenshoe.

It approved the proposal at a board of directors meeting on Dec. 5.

The company also is considering issuing Global Depositary Receipts, American Depositary Receipts and equity shares.

Mumbai, India-based Transworld Infotech is an information technology company.

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