Penny Stock Below Rs 10 To Issue Foreign Currency Convertible Bonds After Declaring Bonus Shares In 2024 – Goodreturns

Penny Stock Trading Below Rs 10 Plans to Issue Foreign Currency Convertible Bonds Following Bonus Share Announcement in 2024

A penny stock trading below Rs 10 has recently announced its plans to issue Foreign Currency Convertible Bonds (FCCBs) after declaring bonus shares in 2024. This move is seen as a strategic decision by the company to raise capital and expand its business operations.

FCCBs are a type of financial instrument that allows companies to raise funds in foreign currency while offering the option to convert these bonds into equity shares at a later date. By issuing FCCBs, the penny stock aims to attract foreign investors and diversify its sources of funding.

The decision to issue FCCBs comes after the company declared bonus shares, which are additional shares given to existing shareholders at no cost. This announcement is expected to boost investor confidence and increase the company’s market value.

Overall, the penny stock’s move to issue FCCBs following the declaration of bonus shares in 2024 reflects its commitment to strategic growth and financial stability. Investors will be closely monitoring the development of this plan and its impact on the company’s performance in the coming years.