Aabar puts another block of shares in RHB Bank for sale


KUALA LUMPUR: Aabar Investments PJS has put up another substantial block of shares in RHB Bank Bhd for sale, as the Abu Dhabi investor continues to pare down its stake in the country's fifth-largest banking group by market value.

According to the term sheet, Aabar is seeking to sell 191 million shares in RHB Bank at between RM5.43 and RM5.54 apiece via a book-building exercise.

This values the 4.8% stake in the bank at between RM1.037bil and RM1.058bil.

Shares in RHB Bank fell four sen to close at RM5.71.

Aabar owns a 14.75% stake in RHB Bank before the sale.

In August last year, Aabar sold 120.3 million shares in RHB Bank, or about a 3% stake, at a price ranging between RM5.07 and RM5.18 each also via a book-building exercise.

CIMB Investment Bank and JPMorgan, the joint bookrunners for the first tranche, have again been picked to arrange the deal.

Banking , RHB , Aabar