The bank is going to acquire 4 per cent shareholding from the existing shareholder namely Nomura Asset Management Strategic Investments PTE Limited of LIC Nomura Mutual Fund Asset Management Company Ltd, Corporation Bank said in a regulatory filing.
The stake buy will be at a price of over Rs 5.67 crore as per the valuation derived, it added.
Corporation Bank shares today closed 0.82 per cent down at Rs 42.30 apiece on BSE.
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