KUALA LUMPUR, April 14 — BIMB Holdings Bhd’s (BIMB) share price on Bursa Malaysia has declined this morning, hours after the banking group announced its plan to undertake a private placement to raise RM795.6 million.
BIMB’s shares had closed at RM3.94 on Monday, and trading of its shares was suspended yesterday pending its announcement.
Despite opening stronger at RM4.00 this morning, the shares fell to RM3.90 at 10.44 am, with some 270,500 shares changing hands.
In a statement yesterday, BIMB said it would be issuing 222.22 million new shares, representing 12 per cent of its issued share capital to raise RM795.6 million.
The issue price was fixed at RM3.58 per placement share, representing a discount of approximately 9.4 per cent to the volume weighted average price of BIMB’s shares for the five market days up to and including April 12, 2021 of RM3.95, it said. — Bernama
