City Union Bank is planning to raise Rs 258 crore through sale of shares to investors on rights basis as well as issue of equity to its employees. The bank would issue a total of 12.89 crore equity shares including 10.24 crore shares under the rights basis and the remaining 2.65 crore shares would be reserved for employees. The proceeds of the issue would be used to strengthen the bank's capital base to support future growth.
Board of directors has fixed the issue price for its proposed rights issue at Rs 20 per share. The issue would open on December 17 and close on December 31. For H1FY12, the net profit of the bank rose to Rs 136.03 crore, from Rs 105.95 crore in the same period of 2010-11. The total income grew to Rs 877.26 crore in H1FY12 as against Rs 635.42 crore previous year
Board of directors has fixed the issue price for its proposed rights issue at Rs 20 per share. The issue would open on December 17 and close on December 31. For H1FY12, the net profit of the bank rose to Rs 136.03 crore, from Rs 105.95 crore in the same period of 2010-11. The total income grew to Rs 877.26 crore in H1FY12 as against Rs 635.42 crore previous year
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