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The Affin Bank Group is a financial services conglomerate. The Group's activities focus on commercial, Islamic and investment banking services, money broking and underwriting of life and general insurance business.
|
Type |
Announcement |
| Subject | AFFIN HOLDINGS BERHAD ("AHB" OR "COMPANY") PRIVATE PLACEMENT OF NEW ORDINARY SHARES OF RM1.00 EACH IN AHB REPRESENTING UP TO 10% OF THE ISSUED AND PAID-UP SHARE CAPITAL OF THE COMPANY ("PRIVATE PLACEMENT") |
On behalf of the Board of Directors of AHB, AFFIN Investment Bank Berhad (formerly known as AFFIN Merchant Bank Berhad) wishes to announce that the Company had not sought the extension from the Securities Commission ("SC") for the Private Placement that had lapsed on 24 May 2007.
Nevertheless, pursuant to the Company’s announcement dated 25 April 2007 on the signing of the preliminary agreement between AHB and The Bank of East Asia, Limited ("BEA") in relation to the proposed equity participation by BEA in AHB, negotiations between the two parties are still on-going.
The relevant approvals would be sought from the Minister of Finance and the SC on the proposal which would include the issuance of new shares in the Company to BEA.
The appropriate announcement will be made on any further development.
This announcement is dated 24 May 2007.
| Company Name | AFFIN HOLDINGS BERHAD |
| Stock Name | AFFIN |
| Date Announced | 24 May 2007 |
| Category | General Announcement |
| Reference No | MM-070524-63431 |
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