KUALA LUMPUR: CIMB Group Holdings Bhd
said it has made no decision or tabled any formal proposal to privatise its Indonesian banking arm, PT Bank CIMB Niaga Tbk.
In a statement on Thursday, the banking group categorically denied recent media reports suggesting plans to privatise CIMB Niaga.
"CIMB Niaga remains an integral part of the Group's regional footprint, and the Group remains committed to its operations in Indonesia," it said.
CIMB added that it would continue to comply with all applicable regulatory guidelines, including minimum free float requirements, in a timely and structured manner.
The clarification follows recent reports that CIMB was exploring a potential delisting of CIMB Niaga as part of efforts to address the Indonesian bank's free float requirements.
CIMB, which holds a 92.5% stake in CIMB Niaga, was reportedly considering several options, including placing shares with strategic investors, a re-listing or privatisation.
