Fmtnews, Bursamalaysia

AmBank to raise RM810mil via private placement

This comes after it agreed to pay the government RM2.83 billion to settle claims linked to the 1MDB scandal.

2/4/2021 5:11:00 AM
Fmtnews, Bursamalaysia, Ambank

This comes after it agreed to pay the government RM2.83 billion to settle claims linked to the 1MDB scandal. FMTNews BursaMalaysia AmBank

This comes after it agreed to pay the government RM2.83 billion to settle claims linked to the 1MDB scandal.

AmBank has proposed 300 million new shares at RM2.70 apiece.KUALA LUMPUR: AMMB Holdings Bhd (AmBank) is looking to raise about RM810 million through a private placement, it said in a bourse filing.The placement comes after the bank said in February it will pay the government RM2.83 billion to settle claims linked to the 1MDB scandal, a hefty payment that is expected to have a material impact on the group’s earnings.

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The bank said late yesterday it has proposed a placement of 300 million new shares at an illustrative issue price of RM2.70 per placement share.Of that, RM806 million is intended for working capital purposes including injection of capital into the group’s operating subsidiaries over a 12-month period, it said.

The bank also announced in a separate filing that it is assessing a goodwill impairment of RM2.09 billion that, if recognised, will be reflected in the earnings for its fourth quarter ended March 31. Read more: Free Malaysia Today »

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AmBank falls 1pc during early trade on proposed private placement exercise | Malay MailKUALA 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. As at 10.40am, AMMB eased three sen to RM2.97, with 2,820,200 shares changing hands....