Financial Daily from THE HINDU group of publications
Saturday, Mar 19, 2005
Financial Daily from THE HINDU group of publications Saturday, Mar 19, 2005 |
|
|
|
|
|
Markets
-
Stock Markets Money & Banking - Stocks ICICI Bank's sponsored ADS priced at $21.11 Our Bureau
Mumbai , March 18 ICICI Bank's sponsored American depository share was priced at $21.11 per ADS. This price is at a premium of 18 per cent to the closing domestic share price on March 11, which was the last date for tender of shares. The bank issued 19.2 million ADS, which is equivalent to 38.4 million equity shares. A press release from the bank said that each ADS represented two underlying equity shares. The offering was subscribed approximately four times. The proceeds of the offering, net of expenses, will be paid to those shareholders who sold their shares. A total of 62.1 million equity shares were tendered by the shareholders against the maximum offering size of 44.2 million shares. Merrill Lynch International, Morgan Stanley and UBS Investment were the joint global coordinators and joint book runners. They have the option to purchase a further 2.9 million ADS equivalent to 5.8 million equity shares.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|