Thursday 28 Mar 2024
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KUALA LUMPUR (Sept 17): Not all existing shares that Aabar Investment PJS holds in RHB Capital Bhd (RHBCap) are entitled to the banking group's current renounceable rights issue.

Only the 15% shareholding that Aabar Investment currently holds in RHBCap is entitled to the rights issue instead of its entire 20.9% shareholding in the banking group, said Bank Negara in a letter issued to RHBCap.

In a filing with Bursa Malaysia today, RHBCap said Bank Negara had issued an order under Section 94(2) of the Financial Services Act 2013, stopping RHBCap from issuing more shares to Aabar Investment in rights for the shares which are in excess of 15%.

In the letter dated Sept 14, the central bank highlighted that such limit on shareholding imposed by Bank Negara on Aabar Investment is in respect to the initial approval granted by the Minister of Finance for the Abu-Dhabi-based investment fund to acquire a 24.9% stake in RHBCap.

Bank Negara also clarified that the imposition of the shareholding limit was not conducted in relation to the renounceable rights issue that RHBCap is undertaking currently.

 

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