Reliance Comm GDRs debut on Luxembourg bourse at $5.82

MUMBAI: Reliance Communications’ Global Depository Receipts (GDRs) listed on the Luxembourg stock exchange on Thursday at $5.82 per GDR. Upto 63.67m of RCL were listed on the exchange.

The GDRs will be traded on the Euro MTF market of the bourse, RCL said in a statement in Mumbai.

Each GDR represents one equity share of RCL. DeutscheBank Trust Company Americas was appointed as the Depository Bank for the GDR issue.

The Anil Dhirubhai Ambani Group-owned telecom company had announced in May this year its plans to sponsor a one billion-dollar (Rs 4500-crore) secondary market offering of GDRs.

Formed by the demerger and vesting of the telecommunications undertakings of Reliance Industries, RCL was listed on BSE and NSE on March 6, 06. Its scrip closed up 1.73% to Rs 271.10 on Thursday.