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

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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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