Reuters: Market News: UPDATE 1-Eros International files $250 mln US IPO

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UPDATE 1-Eros International files $250 mln US IPO Mar 30th 2012, 12:24 March 30 | Fri Mar 30, 2012 8:24am EDT March 30 (Reuters) - Film entertainment company Eros International PLC filed for a U.S. initial public offering of up to $250 million and said it intends to delist from London's junior AIM market. It said it had decided to make the switch as the U.S. capital markets provide more efficient access to additional equity capital on more favourable terms, more relevant peer group, broader analyst coverage and increased liquidity. Eros named Deutsche Bank Securities, BofA Merrill Lynch, Citigroup and UBS Securities as underwriters to the offering. The company intends to list its common stock on the New York Stock Exchange under the symbol "EROS." The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO can be different. Eros shares were up 2 percent at 230 pence at 1221 GMT on Friday on the London Stock Exchange.

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