Cement manufacturer Madras Cements tosay said it will issue bonus shares to the existing shareholders in the ratio of 1:1 and has decided to opt for stock-split.

The shareholders of the company took a decision to this effect at its annual general meeting held on August 11, the Tamil Nadu-based firm today said in a filing to the Bombay Stock Exchange.

The shareholders resolved to issue one fully paid bonus equity share for each share held by the existing members as on a date to be determined by the board of directors, it said.

The AGM also decided to subdivide the company’s Rs 10 each share into 10 shares of Re 1 each, it said.

The AGM also increased borrowing limit of the company to Rs 3,000 crore, it said.


Thai Siam Cement plans up to 20 bln baht bond issue

Siam Cement , Thailand’s biggest industrial conglomerate, said on Monday it planned to sell up to THB20bn (US$585m) worth of bonds with maturities of four years. The bonds would be partly sold to retail investors, the company said in a statement