Corp Bank sells shares in NSE to Citi Strategic

Corp Bank sells shares in NSE to Citi Strategic
PTI
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First Published: Tue, Jul 03 2007. 12 12 AM IST
Updated: Tue, Jul 03 2007. 12 12 AM IST
New Delhi: Corporation Bank said on Monday, 2 July, it has sold 1.19 lakh shares in National Stock Exchange (NSE) to Citigroup Strategic Holdings Mauritius for more than $6 million.
The bank sold 119,250 shares, constituting 0.26% of the issued and paid-up capital of NSE to Citigroup Strategic Holdings on 28 June.
Citigroup Strategic had on 29 June also bought 400,000 shares.
The purchase represented 0.90% stake, in the stock exchange, from Bank of Baroda for Rs91.35 crore.
Bank of Baroda sold the shares at Rs2,281.01 per share and booked a profit of Rs90.65 crore, it had said.
Industrial Development Bank of India Ltd (IDBI) has also sold 2% stake in the stock exchange to MS Strategic (Mauritius) Ltd for $50 million ,after receiving necessary approvals.
IDBI sold 900,000 shares, constituting 2% of the stock exchange stake, to MS Strategic on 28 June.
Earlier in January, New York Stock Exchange had signed a deal to buy 20% stake in NSE along with Goldman Sachs and two other private equity funds . The deal was valued at $490 million.
Shares of Corporation Bank closed at Rs331.10, up 2.07% on BSE.
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First Published: Tue, Jul 03 2007. 12 12 AM IST