Sunday 21 October 2012

Maybank quashes Thai bank bid speculation

Maybank quashes Thai bank bid speculation
Published: 2012/10/10


KUALA LUMPUR: Malayan Banking Bhd (Maybank) today clarified that its private placement exercise on Monday was not meant for a possible bid for Bank of Ayudhya, quashing speculation that it may be keen to bid for a stake in the Thai bank.

In an email statement to Bernama today, Maybank reiterated that the private placement exercise was a proactive move to boost its equity capital ahead of the implementation of the Basel III capital framework.

The book-building process was also to support the bank's growth objectives particularly in relation to the rapid expansion of its business in Indonesia, Philippines and other regional markets.

On Monday, the bank embarked on a private placement exercise to raise RM3.66 billion through the issuance of 412 million new Maybank shares at an issue price of RM8.88 per placement share.


The new share issuance represented 4.98 per cent of the enlarged issued and paid-up capital of the bank as at Sept 30, 2012. 

"Maybank also wishes to clarify that Permodalan Nasional Bhd (PNB) did not participate in the private placement. 

"PNB does not fulfill the waiver criteria by Bursa Malaysia Securities that allow major shareholdres of the company to participate in the private placement by virtue of their representation on the board of Maybank," it said. 

Maybank closed unchanged at RM8.96 today. -- BERNAMA 
SRH SRH NN

Read more: Maybank quashes Thai bank bid speculation http://www.btimes.com.my/Current_News/BTIMES/articles/20121010195048/Article/index_html#ixzz29t01tMLO

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