KUALA LUMPUR (March 27): RHB Bank Bhd (KL:RHBBANK) has subscribed to an aggregate of about 51 million new shares in Boost Bank for RM51 million since May 17, 2024, in order to maintain its 40% equity interest in the digital bank.
The additional subscription of shares in Boost, an indirect subsidiary of Axiata Group Bhd (KL:AXIATA), was funded via internally generated funds, RHB Bank said in a filing with Bursa Malaysia on Thursday.
“The purpose of the additional subscription is to fund Boost Bank’s growth and operations, and to continue meeting the minimum capital funds as required by Bank Negara Malaysia,” it said.
The additional subscription is not subject to the approval of shareholders of RHB Bank or any other relevant authorities and/or parties.
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