Public Bank shares at new high on expectations of a corporate exercise

According to some dealers, there is talk that Public Bank, which is the only banking stock that has bucked the trend among its peers, could be considering the issuance of a bonus or rights issue. It has been 10 years since the bank last implemented a bonus issue in June 2003.

PETALING JAYA: Public Bank Bhd’s shares advanced to an all-time high on Monday on expectations that the third largest lender by asset size in Malaysia could be mulling a corporate exercise, dealers said.

The counter rose 28 sen to close at RM19.28 on a volume of 1.26 million shares.