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Article: HSBC OPEN OFFER FOR 20% MORE STAKE IN INDIA'S UTI BANK TOMORROW.
- Article from:
- AsiaPulse News
- Article date:
- December 4, 2003
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NEW DELHI, Dec 4 Asia Pulse - Foreign banking major HSBC, which has reserved its options to acquire UTI Bank (BSE:UTBK) when government eases norms, will make an open offer tomorrow to buy 20 per cent additional shares of the private bank.
"We will make an open offer tomorrow to buy an additional equity of at least 20 per cent from the public," HSBC India CEO, Niall S K Booker, said, after formally announcing the acquisition of 14.71 per cent stake in UTI Bank on Tuesday.
HSBC acquired 14.71 per cent stake in UTI Bank from ...