Kochi: Cochin International Airport Ltd, the country’s first public-private-partnership (PPP) airport, is all set to go for its maiden public issue with the meeting of the board of directors (BoD) approving a resolution mandated by the shareholders for the same.
The initial public offer (IPO) will be made after issuance of one crore shares at Rs 10 to Housing and Urban Development Corporation Ltd (HUDCO), as part of a pact reached towards settlement of outstanding dues.
After the the initial public offering, the shareholding of the government will come down from 33.33 per cent to 32.24 per cent, the government companies from 8.74 per cent to 8.46 per cent, nationalised and other banks from 5.91 per cent to 5.71 per cent, foreign holdings from 5.42 per cent to 5.24 per cent, and other corporate bodies from 8.57 per cent to 8.29 per cent.
At one crore shares, HUDCO’s shareholding will stand at 3.37 per cent.
31/03/12 Deccan Chronicle
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