AmBanks’ placement
AMMB Holdings Bhd (AmBank)’s recent placement exercise is a notable one for a few reasons.
For one, it was done at a price of less than half its book value, giving the investors who took it up a rare chance to get 10% of the bank at such a low price.
The share placement proposal came slightly more than one month after AmBank reached an agreement with the Ministry of Finance to pay RM2.83bil as settlement for transactions the bank was involved in, with regards to the 1MDB issue.
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