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Cyber Space to privately place shares

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CIOL Bureau
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MUMBAI: Software services firm Cyber Space Infosys Ltd. is making a private placement of 1.5 million shares at Rs 930 a share for which it has appointed SBI Capital Markets Ltd. and UTI Securities Exchange Ltd. as managers, the Bombay Stock Exchange said on Saturday.


The funds from the placement will be used for acquisition of software services business in India and overseas, development of business infrastructure and for international sales and marketing activities, it said.


The firm recently said it is in the final stages of negotiations to acquire companies in the United States and the United Kingdom.


Cyber Space shares ended Friday up Rs 31.65 rupees at Rs 1,157.35 on the Bombay exchange in a volume of nearly 40,000 shares.


(C) Reuters Limited 2000.

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