Dr. Reddy's Lab
, an India-based pharmaceutical company, said Wednesday that it is issuing an additional 1.8 million American depositary shares to the underwriters at a public offer price of $16 an ADS pursuant to the exercise of the over-allotment option that Dr. Reddy's had granted to the underwriters in a previously announced offering completed on Nov. 22.
A total of 14.3 million ADS have been issued under the offering, including this issuance.
On Nov. 16, Dr. Reddy's announced the pricing of the public offering of 12.5 million ADS (excluding the underwriter's over-allotment option) at a public offer price of $16 an ADS.
The shares of the company were trading up 34 cents, or 2.12% at $16.38 Wednesday.
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