Deccan Chronicle may issue FCCBs

The board of directors of Deccan Chronicle Holdings will meet on July 27, 2005, to consider the unaudited financial results for the quarter ended June 30, 2005, and a proposal to raise funds from the global markets by issuing foreign currency convertible bonds (FCCBs)/ADRs /GDRs.

According to a release issued by the company to the BSE today, the float will be for  9% of the authorised share capital of the company subject to conversion at the end of 5 years.