StanChart looking at India listing in June quarter

StanChart looking at India listing in June quarter
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First Published: Wed, Mar 03 2010. 05 27 PM IST
Updated: Wed, Mar 03 2010. 05 27 PM IST
Mumbai: Standard Chartered Plc is looking at an India depositary receipt issue in the second quarter of 2010, the bank’s India chief executive, Neeraj Swaroop, said on Wednesday.
The bank plans to raise $500 million to $750 million, top officials told reporters after Standard Chartered reported a 13% rise in 2009 profit.
StanChart had hired UBS, Goldman Sachs, DSP Merrill Lynch, its Indian unit Standard Chartered STCI Capital Markets and other banks for a possible India listing, sources told Reuters last year.
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First Published: Wed, Mar 03 2010. 05 27 PM IST