UCO Bank to raise about $206.81 million in follow-on public offering

Tue. October 20, 2009; Posted: 02:51 PM

Oct 20, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- UCOKF | Quote | Chart | News | PowerRating -- According to The Economic Times, UCO Bank Limited, an India-based commercial bank, is planning to raise between INR9,000 million ($195.92 million) to INR9,500 million ($206.81 million) in a follow-on public offering of equity shares.

The bank may offer 135 million shares of INR10 ($0.22) each at a premium of about INR60 ($1.31) per share.

The issue will bring down the Government of India's shareholding close to 51% from 63.59%.

Deal Value (US$ Million) 206.81
Deal Type                IPO
Sub-Category             Secondary Offering
Deal Status              Announced: 2009-10-19

Deal Participants

Target (Company) UCO Bank Limited

Offer Price ($ per share) 1.52
No. Shares Issued         135000000

For full details for UCOKF click here.

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