UCO Bank shares fall

The bank said it will convene extraordinary general meeting of shareholders to consider preferential allotment.

Written by Agencies | Published:February 27, 2012 3:55 pm

Shares in UCO Bank fell as the bank’s preferential issue of equity to Life Insurance Corp of India and the government would increase the outstanding shares and is expected to happen at a discount to market price,dealers said.

The bank said on Friday it will convene an extraordinary general meeting of shareholders on March 23 to consider the preferential allotment.

At 1:01 p.m,shares of UCO Bank were down 5.3 percent at 77.45 rupees.

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