PNB Housing Finance Falls 4% After PNB Calls Off Deal To Sell Stake - Dollar Advisory & Financial Services

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Friday 17 May 2019

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PNB Housing Finance Falls 4% After PNB Calls Off Deal To Sell Stake

Shares of PNB Housing Finance fell more than 4 percent intraday on May 17 after its promoter company Punjab National Bank (PNB) terminated the share purchase agreement (SPA) entered into with Varde Holdings for the sale of the housing finance company. PNB had entered into an agreement for sale of 1,08,91,733 equity shares held in PNB Housing Finance to Varde Holdings at Rs 850 per share, aggregating to Rs 925.80 crore. 

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