Friday, 02 Apr 2021 11:14 AM MYTSubscribe to ourKUALA LUMPUR, April 2 — AMMB Holdings Bhd fell 1.0 per cent in the early trade today after the banking group proposed a private placement to raise an estimated RM810 million on Thursday.The group, on Thursday, said it plans to issue up to 300 million new shares, or 9.97 per cent, of its current share capital to raise additional funds to strengthen its core capital ratios, including Common Equity Tier 1 and Total Capital Ratio .
Separately, the group also announced that it will undertake a one-off goodwill impairment of up to RM2.09 billion to be booked in the fourth quarter of financial year ended March 31, 2021 results, which mainly comprise consolidation of previous acquisitions and corporate exercises of its conventional businesses.
“While we do not expect all of the above to result in any material impact to earnings, we are negative on the dilutive effects to shareholders value.
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