Malayan Banking Bhd (Maybank) is now one of the best capitalised banks in Asia after the successful completion of its RM6.02 billion rights issue.
In a statement here today, Maybank said the rights shares, listed on Bursa Malaysia Securities Bhd last Thursday and said to be the largest in Malaysian corporate history, were oversubscribed by 128 per cent.
Its president/chief executive officer, Datuk Seri Abdul Wahid Omar, said the rights issue reflected strong investor confidence in the Maybank brand and the long-term growth strategy of the group.
He said investors’ response to the exercise has been most encouraging, more so given that it was achieved in a challenging economic environment.
“This exercise puts us in a strong position to widen the group’s competitive positioning and reinforce our domestic and regional franchise as well as accelerate growth for the future,” he said.