Australia's ANZ exits Malaysian lender AMMB with US$149 million stake sale
The sale of shares was executed via a block trade, with ANZ offering a total of 171 million shares to potential investors
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ANZ Group, Australia’s fourth-largest bank, has exited its investment in Malaysian firm AMMB Holdings by selling its entire 5.2 per cent stake for up to US$149 million, according to a term sheet seen by Reuters.
The stake exit comes three years after ANZ announced it would write down the value of its investment in AMMB after the Malaysian bank settled a claim linked to the massive financial scandal at state fund 1MDB.
The sale of shares was executed via a block trade, with ANZ offering a total of 171 million shares to potential investors.
The shares were sold at a total price range of US$147 million to US$149 million, and offered at RM4.05 (S$1.16) to RM4.10 per share.
The offer price represents a discount of up to 4.2 per cent to AMMB’s last closing price of RM4.22 on Thursday (May 30). REUTERS
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