ING Vysya Bank has sold shares worth about $117 million to institutional investors, Bloomberg reports. Institutional investors, such as Wellington Financial and DSP BlackRock Mutual Fund, are expected to have purchased the shares, which were 2 times oversubscribed.
The Indian unit of ING Groep had appointed Enam Securities, JM Financial Consultants and IDFC Capital to manage the share sale, adds The Wall Street Journal. ING Vysya is also planning to raise another $101.9 million through a private placement to ING Groep.
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