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Business News/ Money / United Bank may sell shares at upper band
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United Bank may sell shares at upper band

United Bank may sell shares at upper band

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Mumbai:United Bank of India Ltd, the first lender to hold an initial public offering (IPO) in the nation since 2007, may sell shares at the top end of a range marketed to investors, two people with knowledge of the matter said.

The price may be set at Rs66 after 98% of bids were made at that level, one of the people said, asking not to be identified before an official announcement. Two-thirds of the bids for shares allocated for qualified institutional buyers came from foreign investors, one of the people said. The issue was subscribed 32.92 times.

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Published: 26 Feb 2010, 12:00 AM IST
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