ICICI Bank to sell shares worth $216.3m

By siliconindia staff writer   |   Thursday, 30 December 2004, 08:00 Hrs
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MUMBAI: ICICI Bank will sell as much as $216.3 million worth of stock in the form of American depository shares. The bank, in a US Securities and Exchange Commission filing, didn't say how many depository shares will be sold or at what price. The shares, which trade in New York and do not have voting rights, represent two shares that trade in India. The bank will not receive any of the proceeds of the sale managed by Merrill Lynch & Co., Morgan Stanely & Co. and UBS AG. The company's shareholders will sell their stock. The last sale of American depository shares was in 2000 when the bank had a public offering of 13.83 million shares at $11 each

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