Jagson founders offer to buy 20 pct from public

Mumbai: The founders of Jagson Airlines Ltd have made an open offer for 20 percent of the share capital at 20.11 rupees a share, an advertisement in the Financial Express daily showed on Friday.
The founders own 40.76 percent of the airline now, but are also subscribing to warrants that would raise their holding to 68.73 percent on conversion, the advertisement said.
A successful open offer would further raise their stake to 88.73 percent and the company will issue shares to the public or founders would sell shares within two years to meet the listing requirement of minimum 25 percent public holding, it said.
The offer opens on January 3 and closes on January 24, the advertisement showed.
23/11/07 Reuters India

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Categories: Jagson Airlines Nov 2007