Yes Bank stock dives as $1.4bn deal wins board nod

rupees 230-150x
By Jonathan Breen
13 Jan 2020

Yes Bank's share price collapsed in Monday morning trading after the Indian lender’s board of directors approved a potential billion-dollar equity fundraising.

The bank got the greenlight from its board to raise Rp100bn ($1.4bn) in one or more tranches through a variety of methods, including a qualified institutional placement, the sale of global depository receipts, American depository receipts, foreign currency convertible bonds and private placements.

Yes Bank’s stock was down ...

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