PETALING JAYA: RHB Bank Bhd has subscribed for an additional 3.8 million new Boost Bank Bhd shares for RM3.8mil cash to maintain its 40% equity interest in the latter.
The source of funds for the additional share subscription is derived from internally generated funds of RHB Bank.
RHB Bank said the purpose of the additional share subscription is for Boost Bank to fund its operating and capital expenditure for the first half of 2024 and to continue meeting the minimum capital funds as required by Bank Negara.
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