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PNB public issue

BANGALORE, FEB. 26. Punjab National Bank is set to launch its follow-up public issue from March 7 to 11, offering eight crore equity shares of Rs. 10 each at a price to be determined through book building.

The PNB Executive Director, K.C. Chakrabarty, said that 10 per cent will be reserved for employees and an equal quantity for existing shareholders. The price band will be announced at least one day before the issue opens. Post issue, the government holding in the bank will come down to 57 per cent from the existing 80 per cent.

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