New Delhi, Aug 20: The Rs 304 crore public issue from Corporation Bank will open for subscription on October 3, 1997. The bank is offering 3.80 crore equity shares at a premium of Rs 70 per share, aggregating Rs 304 crore. The observations made by SEBI have been incorporated in the offer document and the final version is expected to be submitted soon to both SEBI and the Mangalore Stock Exchange.

During fiscal 1996-97, the bank recorded one of the highest returns on networth among public sector banks. The bank registered a net profit of Rs 125 crore, up from previous fiscal's Rs 105 crore. The bank's capital adequacy ratio stands at 11.3 per cent, while 83 per cent of its investments are marked-to-market as against a minimum of 50 per cent prescribed by RBI as of March 31, 1997.

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