Date:16/09/2004 URL: http://www.thehindubusinessline.com/2004/09/16/stories/2004091601930501.htm

Back Citibank sells Polaris shares

Our Bureau

CHENNAI: Citibank N.A has sold 3.21 per cent of Polaris Software Lab shares in the market between January 2004 and now.

Following this, Citibank's shareholding in Polaris will reduce to 43.79 per cent from 47 per cent, said a Polaris official.

In January, Citibank sold 1.20 per cent of Polaris shares and the rest was sold in the last few days, he said.

Of the 31.35 lakh shares sold, 15 lakh shares have been sold by Citibank N.A (as trustee of Orbitech Ltd). Nominees, who held these shares as nominees of Orbitech Ltd, have sold 14 lakh shares, said a Polaris notice to the National Stock Exchange.