Union Bank shares to trade on 29 March

Friday, 25 March 2011 03:49 - - {{hitsCtrl.values.hits}}

Shares of Union Bank of Colombo, whose Initial Public Offering set an unprecedented record, will begin trading from 29 March.

Classified under the Banks, Finance and Insurance Sector, Union Bank’s code will be UBC-N-0000 with 349.25 million shares listed on the main board.

The Rs. 375 million IPO of Union Bank saw a massive demand worth Rs. 131 billion, reflecting an oversubscription of approximately 350 times, which is regarded as among the most successful globally.

The IPO involved 15 million ordinary voting shares at Rs. 25 each.