MBSB completes MIDF acquisition

KUALA LUMPUR: Malaysia Building Society Bhd (MBSB) has completed the acquisition of the entire equity interest in Malaysian Industrial Development Finance Bhd (MIDF) from Permodalan Nasional Bhd.

The purchase consideration of RM1.01bil was settled by the issuance of 1.05 billion new MBSB shares at RM0.9652 per share (final consideration shares), which were allotted to PNB on Oct 2, 2023.