Axis Bank gains on the back of new share sale

The Indian bank raises $1 billion including a preferential offering to LIC, while Ascott Reit prices its follow-on at the bottom of the range for a $121 million infusion of new capital.
<div style="text-align: left;">
Ascott has a portfolio of serviced residences and rental housing properties across Asia-Pacific and Europe
</div>
<div style="text-align: left;"> Ascott has a portfolio of serviced residences and rental housing properties across Asia-Pacific and Europe </div>

Axis Bank’s share price jumped 4.3% yesterday after the Indian bank’s qualified institutional placement (QIP) was significantly oversubscribed and sent investors scrambling for the stock in the secondary market.

¬ Haymarket Media Limited. All rights reserved.

Sign In to Your Account To Access Exclusive FinanceAsia Content!

Please sign in to your subscription to unlock full access to our premium FA resources.

Free Registration & 7-Day Trial
Register now to enjoy a 7-day free trial - no registration fees required. Click the link to get started.

Note: This free trial is a one-time offer.

Questions?
If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.

Share our publication on social media
Share our publication on social media