Financial Daily from THE HINDU group of publications
Thursday, Apr 07, 2005
Financial Daily from THE HINDU group of publications Thursday, Apr 07, 2005 |
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Money & Banking
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Private Banks Centurion Bank raises $80 m via GDR issue Our Bureau
Mumbai , April 6 CENTURION Bank exercised the entire greenshoe option of $10 million for their GDR issue, taking the total issue size to $80 million. After adjusting for the GDR issue, the net worth of the bank will be in excess of Rs 500 crore and the capital adequacy ratio will be above 20 per cent, as on December 31, 2004, said a press release from the bank. The GDRs are listed on the Luxembourg Stock Exchange. On March 22, Centurion priced its GDR issue at $4.80 per GDR. Each GDR represents 15 local shares of the bank. The offering attracted strong demand from diverse investors across Asia and Europe. Citigroup acted as the sole book-runner and lead manager to the GDR offering.
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