CIMB raises $1.09 billion from upsized placement

The tightly priced deal receives strong support from the Malaysian bank’s existing shareholders despite requiring investors to shoulder quite a lot of market risk.

CIMB raises $1.09 billion from upsized placement

Malaysia’s CIMB Group has raised M$3.55 billion $1.09 billion from a follow-on share sale that was upsized in full and priced at a very tight discount. The deal is the bank’s first fundraising through the equity capital markets since it listed in 2003 and the largest equity deal in Asia ex-Japan so far this year.

The key reason for the transaction, according to a CIMB announcement, is to strengthen the bank’s capital position and to...

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