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India: Yes Bank gets US$1.2B offer

By  |  October 31, 2019

Yes Bank announced on Thursday, October 31, it has received a binding offer of US$1.2 billion from a global investor as the private-sector lender looks to raise capital through a fresh issue of shares, sending its stock 39% higher.

The lender’s CEO Ravneet Gill had said in September that the bank was close to securing a deal to sell a minority stake to a global technology company. 

News channel CNBC TV18 reported, citing sources, that Hong Kong-based Holdings was the investor and that the bank’s board was likely to consider all proposals on November 1, when it is due to report quarterly results.

Full Content: Reuters

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