UTV trading underway

Shares listed at $2.90 closed at $3.075

HONG KONG – Trading in the shares of India’s UTV Motion Pictures got underway Monday on the Alternative Investment market section of the London Stock Exchange.

Shares were listed at $2.90 and closed the first day of trading at $3.075, a gain of 6%. At Monday closing price, the company has a market capitalization of $320 million.

Company, raised $70 million through the flotation and says it will use funds to take over a portfolio of current movies from parent company, Mumbai-based conglom UTV Software Communications, and to develop a slate of forthcoming films.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety