Friday March 4, 2011
PETALING JAYA: Bank Negara has not allowed the Employees Provident Fund (EPF) board to hold more than 45% of the paid-up share capital of RHB Capital Bhd.
In a note to Bursa yesterday, RHB Cap said that RHB Investment Bank Bhd and CIMB Investment Bank Bhd, on its (RHB Cap’s) behalf, said that Bank Negara was not able to consider the EPF’s application via a letter dated Feb 25.
“Accordingly, EPF’s irrevocable undertaking to subscribe under the rights issue shall be for a minimum of 45% of the total rights shares,” it said.
RHB Cap had proposed to acquire 80% of PT Bank Mestika Dharman for RM1.16bil and also a proposed put and call option for 9% of Bank Mestika.
RHB Cap also proposed a renounceable rights issue of new shares of RM1 each in RHB Cap to raise about RM1.3bil.
http://biz.thestar.com.my/news/story.asp?file=/2011/3/4/business/8187259&sec=business
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