India's Aban likely to launch up to $150 mln share sale on Friday - sources

MUMBAI, June 27 Fri Jun 27, 2014 1:06am EDT

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MUMBAI, June 27 (Reuters) - India's Aban Offshore Ltd , an offshore drilling rig services company, is likely to launch a share sale to raise as much as $150 million on Friday, two people directly involved in the deal said.

Aban's board had on May 28 approved share offering worth up to 25 billion rupees to institutional investors.[ID: nWNAS003MJ]

An Aban Offshore spokesman was not immediately available for comment.

Axis Capital is the lead manager to the Aban issue, said the sources, who declined to be named as the details of the deal is not public yet. (Reporting by Abhishek Vishnoi and Indulal PM; Editing by Sumeet Chatterjee)

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