Aabar Investments to exit RHB Bank
At the top range, the deal prices RHB Bank at 0.9 times its book value. Shares in RHB Bank were last traded yesterday at RM5.59.
PETALING JAYA: Aabar Investments PJS is putting up its remaining block of shares in RHB Bank Bhd for sale, marking the Abu Dhabi-based fund’s exit from Malaysia’s fourth-largest lender by asset size.
Sources said Aabar is seeking to sell its entire 9.99% stake or 400.52 million shares in RHB Bank for as much as RM2.22bil.
The sale, to be arranged by CIMB Investment Bank via a book-building exercise, will be priced at a range of between RM5.43 and RM5.54 a share.
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