United Bank of India to consider raising Rs.750 crore

The Board of Directors of United Bank of India at its Meeting scheduled on November 21, 2012 shall discuss and deliberate upon raising of capital up to Rs. 750 crore through issuance of Perpetual Debt Instruments and/or Unsecured Subordinated Non-convertible Tier-ll Bonds, and up to 10 crore equity shares of Face Value of Rs. 10/- each at a premium to be decided subsequently, in the form of Rights Issue or Follow-on Public Offering.

The United Bank of India stock was trading at Rs.66.75, up by Rs.0.20 or 0.30%. The stock hit an intraday high of Rs.69.80 and low of Rs.65.65.

The total traded quantity was 2.66 lakhs compared to 2 week average of 0.45 lakhs.

Source : Equity Bulls

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