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Hot Stock RHBCap gains on dividend, EPF takeover rumour
by Cals Fri 21 Jun 2013, 15:19
Hot Stock RHBCap gains on dividend, EPF takeover rumour
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Friday, 21 June 2013 13:54
KUALA LUMPUR (June 21): RHB CAPITAL BHD [] (RHBCap) became one of today's top gainers after Bloomberg reported that the financial institution's biggest shareholder, the Employees Provident Fund (EPF), is ruminating to buy the remaining RHBCap shares it does not own.
At 11:54am, RHBCap gained one sen or 0.12% to RM8.61 on a trade volume of 1.16 million. The counter had earlier risen as much as six sen or 0.7% to RM8.66.
According to the Bloomberg report which quoted sources, the EPF which owns some 41% of RHBCap, is working with Goldman Sachs Group Inc to study options for RHBCap.
The pension fund may seek to restructure RHBCap and take it public again, the source was quoted as saying.
Based on RHBCap shares' closing price of RM8.60 yesterday, the EPF will need to pay about RM8.8 billion to buy the remaining RHBCap shares, Bloomberg reported.
Meanwhile, gains in RHBCap shares could also be due to the company's dividends. RHBCap is offering a single-tier final dividend of 16.09 sen a share for financial year ended December 31, 2012.
RHB told Bursa Malaysia today that the former's shares will trade ex-dividend on July 2 this year. The dividend will be paid on August 1.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Friday, 21 June 2013 13:54
KUALA LUMPUR (June 21): RHB CAPITAL BHD [] (RHBCap) became one of today's top gainers after Bloomberg reported that the financial institution's biggest shareholder, the Employees Provident Fund (EPF), is ruminating to buy the remaining RHBCap shares it does not own.
At 11:54am, RHBCap gained one sen or 0.12% to RM8.61 on a trade volume of 1.16 million. The counter had earlier risen as much as six sen or 0.7% to RM8.66.
According to the Bloomberg report which quoted sources, the EPF which owns some 41% of RHBCap, is working with Goldman Sachs Group Inc to study options for RHBCap.
The pension fund may seek to restructure RHBCap and take it public again, the source was quoted as saying.
Based on RHBCap shares' closing price of RM8.60 yesterday, the EPF will need to pay about RM8.8 billion to buy the remaining RHBCap shares, Bloomberg reported.
Meanwhile, gains in RHBCap shares could also be due to the company's dividends. RHBCap is offering a single-tier final dividend of 16.09 sen a share for financial year ended December 31, 2012.
RHB told Bursa Malaysia today that the former's shares will trade ex-dividend on July 2 this year. The dividend will be paid on August 1.
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