Financial Daily
from THE HINDU group of publications
Friday, March 31, 2000
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Financial Daily from THE HINDU group of publications Friday, March 31, 2000 |
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Global Trust: Seeking above market price
THE plan of Global Trust Bank to place 26 million shares at a considerable premium to the current market price may not lead to any significant improvement in the valuation of its stock. The proposed equity issuance has been approved by the shareholders o
n March 27. The bank has indicated that the price of the shares shall not be less than Rs.84.34, the minimum price determined in accordance with the SEBI guidelines. Though the bank may find institutional investors taking up the offer at this price, this
may not lead to any lasting improvement in the value of its stock.
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