ANZ sells 16.5% of shareholding in AmBank

KUALA LUMPUR: Australia's fourth-largest bank, ANZ Group, has upsized its initial plan, opting to divest a larger 16.5% stake in AMMB Holdings Bhd (AmBank) instead of the initially proposed 9%.

In a statement, ANZ said it agreed to sell 16.5% of the issued capital in AMMB Holdings Bhd (AmBank) via a block trade at a price of RM3.85 per share.