NEW DELHI: State-owned Punjab National Bank has approved sub-division of one equity share into five with the aim to increase liquidity of scrip.

“The board (of the bank) also considered and granted in- principle approval for spilt of existing equity shares of face value of Rs 10 each into 5 equity shares of face value of Rs 2 each,” PNB said in a statement. Besides, at its meeting on September 19, the board discussed various options of raising capital to meet Basel-III norms, and to fund the general business needs of the bank.

Among the issues discussed were allotment of shares to employees under Employees Stock Purchase Scheme (ESPS) or any other scheme.

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