Yes Bank starts shares sale to raise up to USD 500 mn

Private sector Yes Bank today started share sale to raise up to USD 500 million to fund its expansion plan.
The bank is in the process of raising up to USD 500 million, sources said.
However, details of the share sale were not known.
Last month, Yes Bank had approved a proposal to raise funds by way of issuance of equity up to USD 500 million in one or more tranches.
The bank had said the issuance may be by way of Qualified Institutions Placement (QIP) or any other international offering like Global Depository Receipts (GDRs)/American Depository Receipts (ADRs), or by any other appropriate mode as decided.