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United Bank of India has extended its employee share purchase scheme by a week to August 20 instead of August 13, the bank informed the exchanges on Monday. The scheme was launched on July 30.
The bank set the issue price at a discount of 5 per cent to the average of the weekly high and low prices of its share during the two weeks preceding the launch on July 30.
The government allowed public sector banks to offer employees a share purchase scheme in March 2017. United Bank shares edged down 2.12 per cent at ₹11.55 on the NSE.
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