UCO Bank FPO : Likely by April-end

by khalid on 07/03/2010 · 0 comments

The Follow On Public Offer (FPO) of UCO Bank is likely to open by end of April 2010 or early May 2010. The Board of the UCO Bank has approved to come out with 6 crores shares of Rs 10 each with the premium decided later on. The bank chairman said that he will prefer FPO instead of QIP route of raising money. The board have not yet decided on the method of fund raising, so it could be either FPO or QIP or the combination of both. He expects to raise Rs 400 crores via this FPO. The Government is also going to infuse Rs 500 crores.

The bank had raised Rs 240 crores via an initial public offer (IPO) in September 2003, priced at Rs 12 per share.

Share’s Data :
BSE Code : 532505
Mkt. Cap: Rs 3279 Crores
P/E: 5.83
EPS: 10.15
Face Value : Rs 10
Last Dividend : 10% On May 2009
52 Week H/L : Rs 64.75 / 22.10
UCO Bank share’s CMP is Rs 57.70 on 5th Mar 2010.

UCO Bank Chairman S K Goel informed the market that the bank has an equity capital of Rs 549.36 crore as on December 2009. The face value per share is Rs 10. At the current price of Rs 59.7, the P/E multiple stood at 5.86 with book Value of 50.88 and P/BV at 1.17.

The total shareholding pattern of the company as on Dec 2009 stood at Promoters- 63.59%, Institutional Investors- 12.66%, General Public- 19.55% and other investors- 4.20%.

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