CIMB Group-RHB Capital in share swap to form Asean financial powerhouse (Update)

KUALA LUMPUR: CIMB Group Holdings Bhd shareholders will own 70% of the merged CIMB-RHB Capital Group while RHB Capital shareholders will hold the remaining 30% under a proposed merger of the banking groups with Malaysia Building Society Bhd (MBSB).

“The merger will see a share swap between CIMB Group and RHB Capital at an exchange ratio of 1.38 (one RHB Capital share for 1.38 CIMB Group share).