Aabar not subscribing to RHB Cap rights issue

Not a surprise: The RHB Bank headquarters at Jalan Tun Razak. Aabar Investments, which owns 21.09 of RHB Capital, has not given its undertaking to subscribe to the latter’s right issue.

PETALING JAYA: In a move that does not come as a surprise, Aabar Investments PJS, the owner of 21.09% of RHB Capital Bhd’s (RHB Cap) shares, has not given its undertaking to subscribe to its portion of the latter’s rights issue.

According to the prospectus for the rights issue posted on Bursa Malaysia, only the Employees Provident Fund (EPF) and OSK Holdings Bhd (OSKH), respectively the 41.58% and 9.97% major shareholders of RHB Cap, have given their undertaking to subscribe to the rights issue, which is targeted to raise up to RM2.5bil.