UCO Bank head says got Chidambaram nod for follow-on public issue
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K.Karthik Raja
Jun 26, 2008, 2:45:45 AM6/26/08
to Kences1
UCO Bank head says got Chidambaram nod for follow-on public issue
Thursday, Jun 26
MUMBAI - UCO Bank has received Finance Minister P. Chidambaram's
approval to come out with its follow-on public share issue, Chairman
and Managing Director S.K. Goel told kences1 today.
"We hope to raise around 350-400 crore (3.5-4.0 bln rupees) from
the follow-on issue. We may do it (the follow-on issue) in the third
quarter (Oct-Dec), when market may stabilise," Goel said.
The bank plans to issue 100 mln shares in the follow-on issue, he
said.
UCO Bank's shares surged 6% on news it has got approval for its
follow-on share issue.
At 12:05PM, the stock was trading at 36.40 rupees on the National
Stock Exchange, up 4.9% from close Wednesday.
Thursday, Jun 26
MUMBAI - UCO Bank has received Finance Minister P. Chidambaram's
approval to come out with its follow-on public share issue, Chairman
and Managing Director S.K. Goel told kences1 today.
"We hope to raise around 350-400 crore (3.5-4.0 bln rupees) from
the follow-on issue. We may do it (the follow-on issue) in the third
quarter (Oct-Dec), when market may stabilise," Goel said.
The bank plans to issue 100 mln shares in the follow-on issue, he
said.
UCO Bank's shares surged 6% on news it has got approval for its
follow-on share issue.
At 12:05PM, the stock was trading at 36.40 rupees on the National
Stock Exchange, up 4.9% from close Wednesday.
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