Pakistan's Lucky Cement raises $109 mln via GDRs: Reuters

KARACHI, May 8 (Reuters) - Lucky Cement (LUKC.KA: Quote, Profile, Research), Pakistan's biggest cement maker, said on Thursday it raised $109.3 million through the issue of global depositary receipts (GDRs) to be listed on the London Stock Exchange.

Lucky said it sold 15 million GDRs at $7.28, or 480 Pakistani rupees, each. Each GDR is equivalent to four shares of Lucky.

"An overwhelming response was received from the international investors and the issue was oversubscribed more than 2.5 times," the company said in a statement to the Karachi Stock Exchange.

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