Kingfisher Airlines to raise USD400 million through GDR in coming weeks

Kingfisher Airlines Chairman, Vijay Mallya, reportedly confirmed the carrier plans to raise up to USD400 million through global depository receipts (GDR) in international markets within an 8-10 week period (The Times of India, 25-Feb-2010). The size and pricing of the issue is expected to be finalised in the next two weeks. Seabury Aviation & Aerospace, recently appointed to advise on the carrier's restructuring, will assist with the GDR issue.