Yes Bank to issue shares at Rs.120

Yes Bank Ltd has announced that the Capital Raising Committee of the Board of Directors (CoD) of the Bank at its meeting held on October 18, 2006, has approved a proposal from Swiss Reinsurance Company, an international investor for private placement upto 1,00,00,000 equity shares of Rs 10/- by way of preferential issue at Rs 120 per equity share or the minimum issue price calculated in accordance with Chapter XIII (Guidelines For Preferential issues) of the SEBI (Disclosure and Investor Protection) Guidelines, 2000, whichever is higher.

Further, the company has informed that an Extra Ordinary General Meeting of the members of the Bank will be held on November 20, 2006 to consider the above.

Source : Equity Bulls

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