A $75 million global depositary receipt GDR offering by Aptech of India is still on schedule for pricing on Monday, despite the volatility in the tech sector that has knocked many primary deals off course.
Led by Morgan Stanley Dean Witter, the deal has been structured as a fixed dollar amount, with the number of units to be sold dependent on the price achieved. One unit will equal half a share and there is a 15% greenshoe. Co-leads are Credit Lyonnais and Jardine Fleming, with ABN Amro as co-manager.
The deal should also be bolstered because the company was recently included in the MSCI indices for the...
