Takaful making rights issue

  • Business
  • Saturday, 09 Aug 2003

SYARIKAT Takaful Malaysia Bhd (STMB) has yesterday signed agreements with Affin Merchant Bank Bhd and three securities firms that would underwrite the Islamic insurer's 7-for-5 rights issue of 77 million new RM1 shares.  

Affin Merchant said in a statement the proceeds raised would be used to expand the activities and enhance the operational efficiency of STMB's takaful and retakaful businesses. 

The securities companies, which together will underwrite about 19.82 million shares, are Affin-UOB Securities Sdn Bhd, MIDF Sisma Securities Sdn Bhd and M&A Securities Sdn Bhd. 

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