RHB prices rights issue

RHB Capital’s rights issue signals the group’s intention to refocus on its own growth after the failure of its three-way merger with CIMB and Malaysia Building Society.

RHB Capital's flagging share price was little moved on Tuesday after the Malaysian banking group finally priced its RM2.5 billion $577 million rights issue near the tight end of its indicative discount range.

In a filing on Monday, RHB Capital set the rights issue price at RM4.82 per rights shares, equating to a 20.3% discount to the RM6.03 theoretical ex-rights price. The company in April announced a discount range of 20% to 30% and has since seen its share price fall by more than quarter.

RHB Capital's share price ended Tuesday at RM5.94, 0.17% down on the previous day, having...

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