LG Balakrishnan to issue $5 mln shares to IFC


MUMBAI, March 27 (Reuters) - Indian engineering goods maker LG Balakrishnan & Bros Ltd. plans to issue shares worth up to $5 million to International Finance Corporation, the company said on Monday. LG Balakrishnan said in a notice to the stock exchange it would also issue optionally convertible bonds worth 1 billion rupees ($22.4 million) on rights basis. Shares in the company rose 1.2 percent to 42 rupees in a firm Mumbai market. ($1=44.6 Indian rupees)

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