Dish completes triple tranche rights issue
DTH giant Dish TV has completed the third tranche of its US$232m rights issue, raising around US$90m in the process.
Enam Securities advised Dish TV on the issue.
The first tranche saw the company’s majority owner, the Essel Group, inject US$62m into the…
DTH giant Dish TV has completed the third tranche of its US$232m rights issue, raising around US$90m in the process.
Enam Securities advised Dish TV on the issue.
The first tranche saw the company’s majority owner, the Essel Group, inject US$62m into the company. The firm has also recently received a US$100m injection from US-based Apollo Management via a GDR issue. Institutional investors are believed to have invested in the third tranche. The Essel Group holds 68% in Dish while Apollo holds 11%.
Dish, which is now sitting on a cash stockpile of US$200m, has around 6 million subscribers and has said that proceeds will be used primarily on further customer acquisitions.
