Fri, November 23, 2007 : Last updated 17:53 hours
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HEMARAJ
Hemaraj's sale proceeds may differ
Hemaraj Land and Development Plc said that the net proceeds from the sale of shares in Glow Hemaraj Energy Co Ltd may vary, subjec tto the result of the independent power producer (IPP) project bidding of the energy company.
on August 15, Hemaraj sold sold 10 per cent of shares in Glow Hemaraj Energy at par value to Glow Energy Plc and later sold another 39.99 per cent stake to Glow Energy. Glow Hemaraj Energy was the joint venture of Hemaraj and Glow Energy.
The shares were sold at par value.
Glow Hemaraj Energy is one of 20 consortia bidding for the IPP project.
- The Nation
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