Cochin International Airport Ltd’s disinvestment plans slated for 2009
25 Mar 2008
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Cochin International Airport Ltd (CIAL) plans to raise Rs2,500 crore ($618.4 million) through an initial public offer that may be offered anytime between April and December 2009.
The IPO, which will result in the divestment of 26 per cent of CIAL's equity, is meant to finance an aerotropolis, a maintenance, repair and overhaul (MRO) unit and an aviation academy. All these facilities are planned in the vicinity of the airport.
Of the 26 per cent stake to be disinvested, 20 per cent will be released for public subscription while 6 per cent will be offered as employee stock options.
