Public Bank to raise RM5bil, first rights issue after 10 years

PETALING JAYA: Joining the band of banks that are beefing up their capital base for the Basel III requirement, Public Bank Bhd has proposed a renounceable rights issue to raise up to RM5bil.

This is the first cash call that Public Bank, which is the third largest financial institution in the country, is making in 10 years and the amount is the biggest among local financial institutions.