Maybank Investment Bank fixes issue price of new shares

PETALING JAYA: Maybank Investment Bank Bhd told Bursa Malaysia that the issue price of the new Maybank Shares to be issued pursuant to the fourth dividend reinvestment plan (fourth DRP) applicable to the final cash dividend, has been fixed yesterday at RM8 per new Maybank share.

The new Maybank shares arising from the DRP would be listed on the main market of Bursa on June 5, it said yesterday.

The issue price is based on the five-day volume weighted average market price (VWAMP) of RM8.85 per Maybank Share up to and including April 16, being the last trading day prior to the price fixing date for the issue price.

This is after adjusting to a gross dividend of 36 sen to the five-day VWAMP and a discount of 49 sen which is approximately 5.77% discount to the ex-dividend VWAMP of RM8.49.

The book closure date pursuant to the final cash dividend and fourth DRP has been fixed for May 2.

On April 16, Bursa had approved the listing and quotation of up to 537.25 million new Maybank shares to be issued pursuant to the fourth DRP policy on the main market of Bursa.

so mbb falls to this price during ex ? RM8.49 or would it