RHB prices rights issue

RHB Capital’s rights issue signals the group’s intention to refocus on its own growth after the failure of its three-way merger with CIMB and Malaysia Building Society.
September 08, 2015

RHB Capital's flagging share price was little moved on Tuesday after the Malaysian banking group finally priced its RM2.5 billion $577 million rights issue near the tight end of its indicative discount range.

In a filing on Monday, RHB Capital set the rights issue price at RM4.82 per rights shares, equating to a 20.3% discount to the RM6.03 theoretical ex-rights price. The company in April announced a discount range of 20% to 30% and has since seen its share price fall by more than quarter.

RHB Capital's share price ended Tuesday at RM5.94, 0.17% down on the previous day, having...

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