RHB Cap to acquire CIMB Group, while offer for MBSB is RM2.82 per share


PETALING JAYA: As speculated, the trio of CIMB Group Holdings Bhd, RHB Capital Bhd (RHB Cap) and Malaysia Building Society Bhd (MBSB) have unveiled a proposed merger structure that is quite unorthodox, with the smaller banking group taking over a bigger entity.

All three banks announced to Bursa Malaysia that the merger will see the CIMB Group, which is the second-largest banking group in Malaysia, dispose all its assets and liabilities of RHB Cap via a share swap at an exchange ratio of one RHB Cap share for 1.38 CIMB Group shares.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , CIMB , RHB , MBSB

   

Next In Business News

Wall St set to open lower as Meta Platforms, economic data weigh
Al-’Aqar REIT aims to acquire yield-accretive properties from KPJ Healthcare
Samenta wants micro enterprises to be exempted from e-invoicing
Pantech seeks Main Market listing for subsidiaries via SPV
Inta Bina secures RM224.80mil contract for serviced apartment project
UMediC transfers to Main Market
Ringgit closes marginally higher against US dollar
AirAsia X mulls flying to Eastern Europe, London and Orlando
MKHOP posts RM16mil net profit in 2Q24
Gobind: Appointment of new DNB board members marks major milestone in 5G network restructuring

Others Also Read