By DayakDaily Team
KUALA LUMPUR, Sept 24: Affin Bank Bhd saw a rise of two per cent in its shares this morning ahead of the Sarawak government’s expected finalisation of a majority stake acquisition in the bank this Friday (Sept 27).
According to Bernama, the stock had gained six sen to reach RM3.06, with 2.78 million shares traded as of 11.55am.
Following Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg’s announcement that the State’s takeover of Affin Bank would be completed by Friday, the bank’s share price has increased from last Friday’s closing of RM2.87.
Previously, Abang Johari said that all matters related to the acquisition and the requirements set by Bank Negara Malaysia have been resolved.
Sarawak currently holds a 4.79 per cent stake in Affin Bank and aims to increase its shareholding to around 30 per cent, establishing itself as a major shareholder.
Currently, the Armed Forces Fund Board (LTAT) is Affin Bank’s largest shareholder, with a 28.79 per cent stake, followed by Bank of East Asia Ltd (23.93 per cent) and LTAT’s wholly-owned unit Boustead Holdings Bhd (20.02 per cent). — DayakDaily
