City Union Bank allots 12,00,000 shares to L&T, opens new branches

City Union Bank Ltd has announced that the Board of Directors of the Bank at its meeting held on March 29, 2007, has made allotment of 12,00,000 equity shares of Rs 10/- each at a price of Rs 169/- per share (including a share premium of Rs 159/- per share) on preferential basis to Larsen & Toubro Ltd.

The Company has opened new Branches at Krishnagiri and Paramakudi (Tamil Nadu) on March 28, 2007.

Shares of the company closed the day down by 2.40% or Rs.3.95 at Rs.160.70 on volume of 5452 shares at a weighted average price of Rs.163.38.

Source : Equity Bulls

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