Satyam prices ADS at $21.50

Satyam Computer Services sponsored secondary offering of 13,043,480 American Depositary Shares (ADSs), representing 26,086,960 equity shares has been fixed at $21.50 per ADS.

According to a release issued by Satyam Computers to the BSE, the total offer is for 30,000,000 equity shares, with the underwriters having an option to purchase up to 1,956,520 additional ADSs, representing 3,913,040 equity shares, within 7 days of the pricing.

The proceeds of the sale after excluding expenses of the offering will be returned to all the selling shareholders within 30 days of the closing of the offering, and the company will not receive any proceeds of this offering, the release said ..