by TMR/ graphic by TMR
Aabar Investments PJS ceased to be a substantial shareholder in RHB Bank Bhd after disposing of 230 million shares in the bank via a block trade deal, a RHB exchange filing yesterday stated.
This confirms earlier reports which said Aabar – a unit under Abu Dhabi’s sovereign wealth fund Mudabala Investment Co – sold the shares for RM1.26 billion at a placement price of RM5.45 apiece.
Prior to the sale, Aabar held a 9.99% stake or 400.52 million shares in Malaysia’s fourth largest lender. The fund now holds 169.53 shares or a 4.2% interest in the bank. Aabar emerged as a substantial holder in RHB back in 2011 when it acquired a 24.9% stake in the bank but has since been paring down its stake as it sees the investment as a non-core asset.
RHB’s shares closed three sen lower at RM5.59 with 8.17 million shares exchanging hands.