Punjab National Bank to raise Upper Tier II Bonds Series XI and Tier I Perpetual Bonds Series VI

Punjab National Bank has announced that the Bank will be raising the capital through Upper Tier II Bonds as PNB Upper Tier II Bond Issue Series XI through an issue size of Rs. 500 crore and Tier I Perpetual Bonds as PNB Tier I Perpetual Bond Issue Series VI through an issue size of Rs. 200 crore.

The proposed date of opening is November 24, 2009 and proposed date of closing is November 25, 2009 in both the cases.

The PNB stock was trading at Rs.917.30, up by Rs.17.70 or 1.97%. The stock hit an intraday high of Rs.927 and low of Rs.877.10.

The total traded quantity was 99688 compared to 2 week average of 135824.

Source : Equity Bulls

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