Plethico Pharmaceuticals plans up to $75 million convertibles offering

By Angela McDaniels

Seattle, Feb. 26 - Plethico Pharmaceuticals Ltd. plans to issue up to $75 million of foreign-currency convertible bonds, according to a company notice filed with the Bombay Stock Exchange.

Proceeds will be used to finance the company's acquisitions in the United States, which may include a retail pharmacy chain, manufacturing unit, over-the-counter branded pharmaceutical product or marketing firm.

The company will seek shareholder approval of the offering at its annual general meeting.

Plethico is based in Mumbai, India, and develops and manufactures pharmaceuticals, neutraceuticals, herbal health care products, hospital consumables, disposables and veterinary products.

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