Punjab National Bank Sells 1% stake in NSE

Punjab National Bank has announced that the documents have been signed on January 10, 2007 for sale of 5% equity each in National Stock Exchange of India Ltd (NSE) to four strategic investors (totalling 20%) namely GA Global, New York Stock Exchange, Goldman Sachs and SAIF Mauritius Co. Ltd by five financial institutions including the Bank.

The Bank has executed the documents for sale of 1% equity held in NSE out of total holding of 1.11% (i.e. 4.50 lacs shares out of 5.00 lacs shares held) to the said four investors (0.25% each) for a consideration price of approximately Rs 2260/- per share of face value of Rs 10/- each. The sale is subject to FIBP approval.

Source : Equity Bulls

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