<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 30): Australia &amp; New Zealand Banking Group Ltd (ANZ) is inviting bids to sell its remaining 5.17% stake in AMMB Holdings Bhd (KL:<a href="/askedge/klse/1015" class="ce-stock" target="_blank">AMBANK</a>) for up to RM701.16 million.</p></div>

<div class=newsTextDataWrapInner><p>The sale would mark the exit of the Australia-based banking group from Malaysia’s sixth-largest lender by assets.</p></div>

<div class=newsTextDataWrapInner><p>According to a term sheet sighted by<em> The Edge </em>on Thursday, ANZ's wholly owned subsidiary ANZ Fund Pty Ltd is putting up its remaining 171.02 million shares in AMMB for sale at an offer price of RM4.05 to RM4.10.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The offer price range represents a 2.84% to 4.03% discount to AMMB's closing price on Thursday of RM4.22.</p></div>

<div class=newsTextDataWrapInner><p>The offer is set to close on Thursday night with the trade date fixed for Friday.</p></div>

<div class=newsTextDataWrapInner><p>CIMB Investment Bank and BofA Securities are the joint bookrunners for the block of shares being put up via ANZ Fund.</p></div>

<div class=newsTextDataWrapInner><p>In March, ANZ, which has long made known its intention to let go of its block of AMMB shares, offloaded a 16.5% stake in AMMB for RM2.1 billion, slashing its stake to 5.17%. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>AMMB’s largest shareholder currently is the Employees Provident Fund, holding 14.3%, followed by founder Tan Sri Azman Hashim’s 11.8% stake.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/703614" target="_blank">ANZ to sell 16.5% in AMMB in upsized RM2.1b deal</a></em></p></div>


Australia & New Zealand Banking Group Ltd (ANZ) is inviting bids to sell its remaining 5.17% stake in AMMB Holdings Bhd (KL:AMBANK) for up to RM701.16 million.

ANZ to sell remaining 5.17% stake in AMMB for up to RM701 mil

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