Punjab National Bank has fixed February 11, 2005 as the specified date for ascertaining eligible existing shareholders who shall be entitled to apply in the follow on public offer (FPO).According to a release issued by PNB to the BSE today, the bank has filed the draft red herring prospectus in respect of its proposed FPO for eight crore shares of Rs 10/ each with Sebi on January 14, 2005."As per the terms of the said draft and in line with Sebi (DIP) Guidelines, 2000, the bank proposes to reserve 10% of the proposed issue size i.e. 80 lakh shares for eligible existing Shareholders (i.e. shareholders holding shares with market value of up to Rs 1,00,000," the release added."Accordingly, all existing shareholders whose names appear in the register of shareholders at the end of the close of business hours on February 11, 2005, and whose holding on that day does not exceed Rs 1,00,000/- based on the closing price of bank's shares on the National Stock Exchange (NSE) on February 10, 2005, shall be eligible to apply for equity shares in the aforesaid reserved category in the FPO," the release said.
