ICICI Bk prices domestic float at Rs 525/shr

ICICI Bank has priced the public issue of equity shares in the domesctic market at Rs 525 per equity share.

According to a release issued by ICICI Bank to the BSE today, the bank's American Depositary Shares (ADSs) offering of Rs 2,000 crore has been priced at $26.75 per ADS - translating into a price of approximately Rs 618 per equity share and a premium of approximately 18% to the domestic issue price. "Each ADS represents two equity shares of the bank," the release added.

The issuance and delivery of the equity shares and the ADSs is expected to be completed by December 16, 2005, the release said.