Rana Sugars lists on DIFX

Mumbai, May 17 (UNI) Sugar refining major, Rana Sugars Limited which recently raised USD 18 million in global depository receipts (GDRs), will become the second Indian company to list on the Dubai International Financial Exchange (DIFX), stated a release issued here today.

In March, Man Industries, the Indian oil and gas pipeline supplier listed on the DIFX following its raising of USD 35 million GDRs.

Rana Sugars, which manufactures white crystal sugar, will use the proceeds of the GDR issue to expand its sugar as well as its power generation capacities.

Mr Nasser Alshaali, CEO, DIFX, said ''this (Rana Sugars) listing further demonstrates the appeal of the DIFX to companies right across our region. The exchange provides a high international profile and an excellent trading environment.'' UNI JJ ADG SKB1642