Standard Chartered PLC is to open its IDR issue between the 25th of May 2010 and 28th of May. The issue is for a total of 24 cr IDR’s. This is the first offering of IDR in the country. Each IDR will form one tenth portion of a share. Effectively what this means is that 10 IDR’s will equal one share.

This would be the third listing for Standard Chartered PLC after London and Hong Kong. The company is offering a 5% discount to retail share holders. The stock closed at a price of GBP 16.22 on the London Stock exchange. The 52 week high low for the stock is 18.48 and 11.15 pounds respectively.

More on this offering during the course of the week as there is plenty of time to analyse the issue. Secondly the pricing of this issue would be informed by way of advertisement in the newspapers of Monday the 24th of May, which is one day before the issue opens. This means that the issue would be priced considering the closing price of Standard Chartered on the London Stock Exchange as of Friday the 21st of May 2010.