ICICI Bank says board approves five-for-one stock split
ICICI Bank says board approves five-for-one stock split
ICICI Bank Ltd, India's top private sector lender by assets, said on Tuesday its board had approved a five-for-one stock split.
Each American Depositary Share (ADS) of ICICI Bank will continue to represent two underlying equity shares, the lender, which is also traded in New York, said in a statement. The number of ADSs will increase in proportion to the increase in equity shares, it said.
The split is subject to shareholder and regulatory approvals, the bank said, adding it would set the record date for the split later.
Ahead of the news, ICICI Bank shares closed 1.4% lower at Rs 1,545.75 in a Mumbai market that fell 0.26%.
ICICI did not give a reason for the stock split, but companies typically split their stocks to keep prices attractive for retail investors.
Thanking you
Regards,
Rajesh Kumar Kathpalia ¤ SMC Global
17,Netaji Subhash Marg,Daryaganj,
New Delhi-110002 Mobile No 9891645052
Email Id: rajesh.ipo@smcindiaonline.com
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ICICI Bank Ltd, India's top private sector lender by assets, said on Tuesday its board had approved a five-for-one stock split.
Each American Depositary Share (ADS) of ICICI Bank will continue to represent two underlying equity shares, the lender, which is also traded in New York, said in a statement. The number of ADSs will increase in proportion to the increase in equity shares, it said.
The split is subject to shareholder and regulatory approvals, the bank said, adding it would set the record date for the split later.
Ahead of the news, ICICI Bank shares closed 1.4% lower at Rs 1,545.75 in a Mumbai market that fell 0.26%.
ICICI did not give a reason for the stock split, but companies typically split their stocks to keep prices attractive for retail investors.
Thanking you
Regards,
Rajesh Kumar Kathpalia ¤ SMC Global
17,Netaji Subhash Marg,Daryaganj,
New Delhi-110002 Mobile No 9891645052
Email Id: rajesh.ipo@smcindiaonline.com
--
You received this message because you are subscribed to the Google Groups "Product Updates for AMC" group.
To unsubscribe from this group and stop receiving emails from it, send an email to Productupdatesforamc+unsubscribe@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.
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