Maybank IB buys 38 million Malakoff shares in stabilising bid

KUALA LUMPUR: Maybank Investment Bank Bhd (Maybank IB), as stabilising manager of Malakoff Corp Bhd, stepped in again on Monday to support its price by buying RM68mil worth of shares.

The country’s biggest independent power producer told the exchange that Maybank IB, which was also its initial public offering’s (IPO) transaction manager and joint principal adviser, bought 38 million shares at RM1.7917 each.