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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 I. PROPOSED ACQUISITION BY AFFIN BANK BERHAD ("AFFIN BANK") OF 65,280,000 EXISTING ORDINARY SHARES, REPRESENTING 20.82% OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF P.T. BANK INA PERDANA (“BANK INA”); II. PROPOSED SUBSCRIPTION BY AFFIN BANK OF 185,600,000 NEW ORDINARY SHARES, REPRESENTING 59.18% OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF BANK INA; AND III. PROPOSED PUT AND CALL OPTION TO/BY AFFIN BANK IN RESPECT OF UP TO 56,488,856 EXISTING ORDINARY SHARES, REPRESENTING UP TO 18.01% OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF BANK INA COLLECTIVELY REFERRED TO AS THE “PROPOSALS” |
| Contents | Further to the announcement dated 4 August 2010, AFFIN Investment Bank Berhad, on behalf of the Board of Directors of AFFIN Holdings Berhad is pleased to announce that Bank Negara Malaysia has vide its letter dated 23 December 2010, granted its approval to AFFIN Bank for the following: (i) to establish a subsidiary by acquiring Bank Ina pursuant to Section 29 of the Banking and Financial Institutions Act 1989; and (ii) to issue 121.356 million fully paid up new ordinary shares to fund the Proposals. This announcement is dated 27 December 2010. |
| Company Name | AFFIN HOLDINGS BERHAD |
| Stock Name | AFFIN |
| Date Announced | 27 Dec 2010 |
| Category | General Announcement |
| Reference No | MI-101227-41602 |
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