KUALA LUMPUR, June 9 Public Bank Berhad
, Malaysia's third-largest lender by assets, said on
Monday it would issue rights at a price of 13.80 ringgit per
share to raise up to 5 billion ringgit ($1.6 billion) for
Public Bank will issue 350.2 million rights on the basis of
one for every ten shares held in the company at market close on
June 23. Shares of Public Bank closed 0.1 percent higher at
20.80 ringgit on Monday.
The rights issue will also increase the bank's capital
buffers to meet regulatory requirements, it said in an
announcement to the stock exchange in late April.
($1 = 3.1965 Malaysian Ringgit)
(Reporting by Al-Zaquan Amer Hamzah; Editing by Mark Potter)