ANZ sells more AmBank shares on strong demand

ANZ said it has agreed to sell 16.5% of the issued capital in AmBank via a block trade at a price of RM3.85 per share.

PETALING JAYA: Hot on the heels of its initial plan to sell a 9% stake in AMMB Holdings Bhd (AmBank), Australia’s fourth largest bank ANZ Group has upsized its stake sale, opting to divest a larger 16.5% stake in the Malaysian banking group for about RM2.1bil cash.

ANZ in a statement said it has agreed to sell 16.5% of the issued capital in AmBank via a block trade at a price of RM3.85 per share.