Corporate development brewing in Public Bank

Public Bank is expected to hold a press conference this Friday at Menara Public Bank, where Public Bank managing director and chief executive officer Tan Sri Tay Ah Lek, along with a few key stakeholders will share important updates and information related to the major announcement.

PETALING JAYA: Ahead of a surprise media briefing by Public Bank Bhd this Friday, it is speculated that the third-largest banking group by assets is looking to acquire the stake of the Teh siblings in LPI Capital Bhd.

The late Tan Sri Teh Hong Piow, the founder of Public Bank, has one son and three daughters who collectively hold a 42.74% stake in LPI Capital through Consolidated Teh Holdings Sdn Bhd, going by Bloomberg data.