BIMB Issued 222.22 Million New Shares - Kakiforex | Forex markets for the smart money. BIMB Issued 222.22 Million New Shares BIMB Issued 222.22 Million New Shares

April 14, 2021

BIMB Issued 222.22 Million New Shares

 BIMB Holdings Bhd will issue 222.22 million new shares, representing 12% of the issued share capital to raise RM795.6 million.

According to the firm, as reported by Bernama, the pricing related to the placement of its shares was completed yesterday and received excess subscriptions from existing shareholders and new investors.

BIMB's Board of Directors has set the issue price at RM3.58 per placement share, representing a discount of approximately 9.4% on the daily average price of BHB's shares for the five trading days up to April 12, which is RM3.9521 per share.

Meanwhile, the bank informed Bursa Malaysia that BIMB securities resumed trading at 9am this morning.

BIMB's trading was suspended until 5pm yesterday pending an important announcement on its fundraising measures.

BIMB is undertaking restructuring measures which are expected to be completed in August. Its wholly -owned subsidiary, Bank Islam Malaysia Bhd will take over BIMB's listing status in key markets.

The stock exchange operator approved the application yesterday.

At 9.57am, BIMB shares were trading at RM3.89.