Aabar puts 120 million shares in RHB Bank on the block

The bank is considering selling its 17-storey location in the city-state

KUALA LUMPUR: Aabar Investments PJS is seeking to reduce its stake in RHB Bank Bhd.

The unit of Abu Dhabi sovereign wealth fund Mubadala Investment Co is offering to sell 120.3 million RHB Bank shares at RM5.07 to RM5.18 each, according to the terms sheet.

Shares in RHB Bank were last traded at RM5.34 on Tuesday.

Aabar is seeking to raise as much as RM623mil from the disposal of the 3% block in RHB Bank. Aabar owns 711.8 million shares, or a 17.75% stake in RHB Bank.

The joint book runner for the programme are CIMB and JP Morgan.