MBSB to take over MIDF in RM1bil share deal

PETALING JAYA: Malaysia Building Society Bhd (MBSB) will take over Malaysian Industrial Development Finance Bhd (MIDF) from Permodalan Nasional Bhd (PNB) in an all-share deal valued at RM1.01bil.

MBSB will buy 480.4 million ordinary shares in MIDF currently held by PNB, through the issuance and allotment of 1.05 billion new MBSB ordinary shares at the issue price of 96.52 sen a share, MBSB said in a filing with Bursa Malaysia yesterday.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Selling pressure intensifies on Bursa
TNB accelerates RE, clean energy initiatives through three flagship projects under NETR
No charges imposed on DuitNow QR merchants at present, says Maybank
Ringgit rises against US$ in early trade as risk appetite improves
Creador founder Brahmal partners Princeton to profile South Asian art
Sunway's industrial segment gains steam
Sapura Energy most active on recovery hopes
Bursa opens on a slide despite US rebound
Trading ideas: Sapura Energy, Kerjaya Prospek, Sunway, Kim Loong, Glomac, Gamuda, Hiap Teck, Pensonic and Jiankun
Uphill battle to make money from rewilding

Others Also Read