Public Bank fails to meet 50% acceptance level

The bank said it can no longer accept further acceptances and all acceptances shall be returned to the accepting holders.

PETALING JAYA: Public Bank Bhd (PBB) has failed to secure more than 50% of the voting shares in LPI Capital Bhd and will return all LPI shares to the accepting shareholders.

As of 5pm on Jan 9, the closing time for the offer, PBB and the parties acting in concert (PAC) held approximately 49.57% of the total issued LPI shares and therefore did not fulfil the acceptance condition.