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Aqua Logistics to consider stock-split & fund raising

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Aqua Logistics, India’s foremost global logistics and supply chain partner providing end-to-end solution in the logistics and supply chain domain, today announced that company’s board will meet on June 28, 2010 to consider sub-division of company’s equity shares, subject to approval of shareholders. Further, the company will also seek shareholders approval to raise US$ 70 million through various options including Global Depository Receipts (GDR) or / American Depository Receipts (ADR), QIP / QIB, FCCB.

Recently, the company completed acquisition of three Hong Kong-based companies – CIT Logistics, TAG Logistics and AGI Logistics through its wholly-owned subsidiary Aqua Logistics HK. CIT Logistics is an integrated logistics company while TAG Logistics provides hub distributions through its closely related custom bonded warehouses. AGI Logistics provides supply chain management solutions, contract logistics services and international forwarding services. Aqua Logistics has initially acquired a majority stake of 60% shareholding in the three companies for a total consideration of $7.09 million. Aqua will acquire additional 15% equity stake spread over a 5-year period.

Source: India Infoline Ltd

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