UCO Bank to issue 6 crore shares through FPO or QIP

UCO Bank has announced that the Board of Directors of the Bank at its meeting held on January 30, 2010, inter alia, had resolved to raise 6 (six) crore equity shares of face value of Rs. 10/- at a suitable premium either through FPO (For which Government of India's approval has been received) or through QIP (subject to GOI's approval) and to convene an Extra-ordinary General Meeting (EGM) of the shareholder to obtain their approval for raising the subject equity capital either through FPO or QIP (subject to Government approval).

The stock was trading at Rs.60.40, down by Rs.0.70 or 1.15%. The stock hit an intraday high of Rs.62.40 and low of Rs.60.15.

The total traded quantity was 1085859 compared to 2 week average of 1729017.

Source : Equity Bulls

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