Bank of India to acquire PT Bank Swadesi, Indonesia

Bank of India has announced that the Bank has signed the Acquisition Deed for acquiring 76% stake in M/s. PT Bank Swadesi, Indonesia.

Bank Swadesi is a well run mid sized operating in Indonesia for last 38 years and has 16 outlets. Bank Swadesi has a licence to Forex Business and is listed on the Jakarta Stock Exchange.

The stock was trading at Rs.223.70, up by Rs.7.55 or 3.49%. The stock hit an intraday high of Rs.225.40 and low of Rs.217. The total traded quantity was 660332 compared to 2 week average of 427747.

Source : Equity Bulls

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