Hindustan Copper to choose FPO bankers by end-June

State-run Hindustan Copper Ltd will select book running lead managers for its follow on public offer by the end of this month, its chief said on Thursday.                                           

Bank of America-Merrill Lynch and UBS are among the nine banks shortlisted, chairman and managing director Shakeel Ahmed told reporters at a media briefing.                                            

Hindustan Copper's follow-on public offer would consist of 10% fresh equity and 10% percent divested by the government. It is expected to raise up to about Rs50 billion ($1.08 billion) through the public issue.