KUALA LUMPUR, April 24 (Bernama) -- Malayan Banking Bhd's (Maybank) total acceptances and excess applications received for the rights issue were 2,805,311,420 rights shares.
These represent an excess application of about 27.72 percent over the 2,196,516,217 rights shares available for subscription under the rights issue, the banking group said in a filing to Bursa Malaysia here Friday.
Maybank is offering renounceable rights issue of 2,196,516,217 new ordinary shares of RM1 each at an issued price of RM2.74 per rights share, payable in full upon acceptance, on the basis of nine rights shares for every 20 existing ordinary shares of RM1 each in Maybank.
The banking group planned to raise RM5 billion to RM6 billion through the rights issue, to meet its target of becoming one of Asia's best capitalised banks.
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