KUALA LUMPUR: A total of 150.02 million shares of RHB Bank Bhd was traded in an off-market deal valued at RM825.13mil at midday on Tuesday.
Stock market data showed the block was traded at RM5.50, or 35 sen below Monday’s closing price of RM5.85.
At 12.30pm, RHB share price was down 22 sen to RM5.63 with 6.19 million shares traded.
Starbiz reported that Aabar Investments PJS is exiting RHB by putting up its remaining 4.23% stake in the bank for sale for close to RM1bil.
According to sources, the Abu Dhabi-based fund is offering its entire stake of 169.52 million shares for sale at a price range of RM5.45 to RM5.62 per share, which will see it receiving up to RM953mil.
JP Morgan and Maybank are said to be the joint bookrunner for the deal. The shares, which equals to a 4.23% stake in RHB Bank, will be priced at between RM5.45 and RM5.62 per share.
The Employees Provident Fund is currently the largest shareholder in RHB Bank with a 42.86% stake.