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.

“The sale will reduce ANZ’s shareholding in AmBank from 21.7% to 5.2% and is in line with ANZ’s strategy of simplifying the bank.

“Following the sale, ANZ will continue to have one nominated director on the AmBank Board,” ANZ said.

ANZ said the sale proceeds will increase ANZ’s common equity tier 1 (CET1) ratio by approximately 16 basis points and are not expected to have a material impact on profit.

Settlement is anticipated to occur on March 8. ANZ’s capital management considerations will include the capital release from this sale, subject to regulatory approvals.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

AmBank , ANZ , AMMB

   

Next In Business News

Oil settles down on weaker US consumer sentiment
China’s exports top forecasts but falling imports point to more stimulus
Lessons from Malaysia’s Silver State
UK emerges as haven from global storms
Empowering SMEs in their digital transformation
Holistic approach to developing data centres
Sunview gains momentum on booming solar sector
Carbon tax conundrum
Robust plans needed to spur high-skilled jobs
Synergy House brings innovation to the table

Others Also Read