LTAT sells 112.56 million shares in Affin Bank to Sarawak state entity

KUALA LUMPUR: Affin Bank Bhd has confirmed that the Armed Forces Fund Board (LTAT) has divested 112.56 million shares in the bank to the State Financial Secretary Sarawak for RM221.74 million via a direct business transaction.

In a filing with Bursa Malaysia today, the bank said it sold the shares, representing 4.95 per cent of the total issued shares, for a cash consideration of RM1.97 per share.