#1
5th March 2016, 02:15 PM
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ING to sell stake in ING Vysya bank
Hello sir I want to know about the ING Stake policy of ING Vysya bank so please provide me information about the same.
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#2
5th March 2016, 02:20 PM
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Re: ING to sell stake in ING Vysya bank
ING Vysya Bank has surged over 7% to Rs 548 on BSE on reports that the promoter is planning to sell its entire stake in the private sector bank. ING to sell stake in ING Vysya bank ING Group NV, the biggest Dutch financial-services company, seeking a buyer for its 43% stake in ING Vysya Bank Currently, ING Mauritius Holdings (33.85%) and ING Mauritius Investments (9.69%) are collectively holds 43.55% stake in ING Vysya Bank, the shareholding pattern data shows. The stock opened at Rs 540 and touched high of Rs 599 on BSE. A combined around 50,000 shares change hands on the counter till 0920 hours on BSE and NSE. Share holders pattern of merging entity Banking on synergy With ING Vysya nearing the foreign shareholding cap of 74 per cent, this merger would yield more liquidity and significant As the foreign shareholding after the merger would be 47 per cent. The promoters hold a 42 per cent stake in ING Vysya Bank. After the merger, the ING group, with a 6.4 per cent stake, will become the second-largest shareholder in the bank. According to regulations, RBI’s approval is required for an entity other than the promoter to have more than five per cent stake in a bank. ING would have a one-year lock-in period for the shares it holds. An ING representative will also be inducted into Kotak Bank’s board. |
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