PETALING JAYA: RHB Capital Bhd (RHBCap) has announced a major corporate exercise, as speculated, as the country’s fourth largest banking group seeks to strengthen its capital structure, improve tax efficiency and support future growth, three months after aborting a mega-merger deal with local rival CIMB Group Holdings Bhd
and sister company Malaysia Building Society Bhd.
To kick off the group’s restructuring exercise, RHBCap has proposed a fund-raising exercise via a renounceable rights issue of RM2.5bil to meet Basel III and future growth requirements.
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