Financial Daily from THE HINDU group of publications
Wednesday, Dec 22, 2004
Financial Daily from THE HINDU group of publications Wednesday, Dec 22, 2004 |
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Money & Banking
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Public Offer Markets - Public Offer Oriental Bank may tap capital market soon Our Bureau
New Delhi , Dec. 21 ORIENTAL Bank of Commerce (OBC) has said that it is considering raising fresh capital through a second public offer. OBC was the first nationalised bank to go in for an initial public offering in October 1994. In a notice to the Bombay Stock Exchange, OBC has said a meeting of its board of directors has been scheduled for December 28 to discuss the agenda for the proposed increase in equity share capital. The proposed offer would bring down the Government holding in the bank that presently stands at around 66 per cent. The bank has a share capital of Rs 193 crore. OBC now joins a host of other public sector banks that are proposing to hit the capital market for their second public offer. These include Punjab National Bank, Allahabad Bank and Dena Bank. No strike: The bank has also informed the BSE that the proposed strike by its employees on December 22 has been called off.
More Stories on : Public Offer | Public Offer | Public Sector Banks
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