Public Bank Bhd's (PBB) 61.4%-owned Hong Kong subsidiary JCG Holdings Ltd has proposed buying out minority shareholders for HK$1.26bil (about RM630mil), or HK$4.61 (RM2.25) per share, and go private.
The proposed scheme would improve the net earnings of the PBB group as the share of net profits of the minority shareholders would accrue to PBB,'' the bank told the KLSE in a statement yesterday.
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