India’s Yes Bank kicks off $2bn share sale

By Jonathan Breen
15 Jul 2020

Troubled lender Yes Bank has hit the market with an issue of fresh equity, with the deal covered at the open by pre-launch demand, according to bankers close to the trade.

The bank is floating 12.5bn primary shares through a three-day “further public offering” (FPO), effectively a re-IPO. It is looking to raise as much as Rp162.7bn ($2.16bn) from the sale.

The offering comes as Yes recovers from a spectacular collapse in the first quarter this year, after a ...

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