ICICI Bank prices its follow on issue at Rs 940 per share

Mumbai, June 25 (UNI) ICICI Bank Ltd today announced that it has priced its recently concluded Rs 8,750 crore follow-on issue at Rs 940 per equity share.

The ICICI Bank has made the follow on issue at an offer price of Rs 885-950 per share and was open from June 19-22.

ICICI Bank shares were down by Rs 2 to close at Rs 951.75 from the previous close of Rs 953.75 on the Bombay Stock Exchange in line with the general weakness in the market today.

The issue price represents a premium of 3.6 per cent to the average closing price since the announcement of the issue on April 28.

The bank's American depositary share offering of USD 2.14 billion has been priced at USD 49.25 per ADS, which amounts to Rs 1,002.5 per equity share. It represents a premium of 6.6 per cent over the domestic issue price.

The ADS offering, which represents two equity shares of the Bank, has a green shoe option of U S Dollar 0.32 billion.

UNI