RPT-UPDATE 1-Tata Steel to sell GDRs for about $600 mln-sources
(Repeats story issued late on Thursday)
* Citigroup, JPMorgan arrangers; on verge of launch-sources
* Company official denies plan
* Shares rise to highest close in over two weeks (Adds details, quotes, Tata Steel CFO comment)
By Narayanan Somasundaram
MUMBAI, July 2 (Reuters) - India's Tata Steel (TISC.BO: Quote, Profile, Research), the world's sixth-largest steel maker, plans to sell global depositary receipts worth about $600 million, two sources with direct knowledge of the deal said on Thursday.
A company official denied the plan.
"This is not true. If there is any such plan we will notify at the right moment," Chief Financial Officer Koushik Chatterjee told Reuters.
The sources, who cannot be named because they are not authorised to speak to the media, said Citigroup (C.N: Quote, Profile, Research) and JPMorgan (JPM.N: Quote, Profile, Research) were arrangers for the deal. Continued...
Dubai Debt Fears
Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets. Full Article | Slideshow
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
India
US
UK
