Sterlite offers IPO at $13.44 per ADS

New Delhi, June 19: Sterlite Industries India Ltd today said it has priced its initial public offering (IPO) of about 13 crore equity shares at 13.44 dollars per American Depositary Shares (ADS).

These shares, in the form of ADS, represent an approximately 18.9 per cent interest in the company post offering, a statement said.

Sterlite's ADS' have been approved for listing on the New York Stock Exchange under the symbol 'SLT'.

The underwriters, joint global coordinators and bookrunners for the offering are Merrill Lynch, Pierce, Fenner and Smith Incorporated, Morgan Stanley and Co, International plc and Citigroup Global Markets Inc.

Nomura Singapore Ltd is the underwriter for the public offering of around one crore of the equity shares in the form of ADS' from the global offering.

After this offering, the company will have 68.9 crore equity shares outstanding, the statement added.

The company has also granted the representatives an option to purchase an additional 1.95 crore equity shares in the form of ADS' to cover over-allotments.

UNI