General Atlantic converts Hexaware shares
General Atlantic converts Hexaware shares >Hexaware Technologies announced that GA Global Investments have exercised their option of converting 1,055,570 preference shares into unregistered American Depository Receipts (ADR), represented by underlying 10,555,700 equity shares at Rs 142.10 a share. General Atlantic had invested Rs 3 billion in Hexaware through a preferential allotment in early 2006. As per the terms and condition of the preference shares, General Atlantic had an option for eighteen-month ending Oct. 24, 2007 to either convert into equity shares or opt for redemption. Post conversion, the equity capital of the Hexaware stands at Rs 287.2 million divided into 143,599,850 equity shares of Rs 2 each. Shares of the company declined Rs 1.70, or 1.36%, to trade at Rs 123. The total volume of shares traded was 33,821at the BSE. (3.24 pm, Monday)
