RHBCap suspends trading tomorrow
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RHBCap suspends trading tomorrow
RHBCap suspends trading tomorrow
By Supriya Surendran / theedgemarkets.com | May 30, 2016 : 5:43 PM MYTKUALA LUMPUR (May 30): Trading in RHB Capital Bhd (RHBCap) will be suspended from 9 a.m. tomorrow (May 31), in order to facilitate the implementation of its distribution and capital repayment exercise.
In its filing to the exchange today, RHBCap said the exercise would involve distribution of the entire shareholding of RHBCap in RHB Bank Bhd, by way of distribution via a reduction of the entire share premium account of the company.
The distribution exercise would also involve the reduction of par value from RM1 to five sen, in accordance with sections 60(2) and 64 of the Companies Act 1965, as well as via the company’s retained earnings.
This would form part of RHB’s internal reorganisation exercise that would see RHBCap’s listing status assumed by RHB Bank.
RHBCap shares dropped seven sen today at RM6.10, for a market capitalisation of RM18.94 billion.
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