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India's Pantaloon Retail OKs 1:10 bonus issue

Thu Jul 24, 2008 11:07am EDT

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MUMBAI, July 24 (Reuters) - Pantaloon Retail India Ltd (PART.BO), the country's top listed retailer, said on Thursday its board had approved a bonus issue of one "Class B" share for every 10 "Class A" equity shares held.

A "Class B" share has differential voting rights and is entitled to an additional 5 percent dividend, it said.

Ahead of the news, shares in Pantaloon had ended down more than 4 percent at 360.20 rupees in a weak Mumbai market. (Reporting by Rina Chandran; Editing by Charlotte Cooper)



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