ASB ups stake in Maybank to 30.49%

ASB ups stake in Maybank to 30.49%

KUALA LUMPUR (May 23): The trustees of Amanah Saham Bumiputera (ASB) bought a 0.23% stake in Malayan Banking Bhd (KL:MAYBANK) this week for RM276.48 million.

According to a bourse filing on Thursday, Amanahraya Trustees bought the 27.76 million shares in Malaysia’s largest banking group by assets on May 20, when the bank closed at an all-time high of RM9.99.

The purchase increased the fund’s stake in the bank to 30.49% or 3.68 billion shares, from 30.26% previously.

Based on Bloomberg data, a 27.76 million share block was traded off-market on May 20 at RM9.96 apiece or a total of RM276.48 million. The price tag is a 0.3% discount to the RM9.99 close.

ASB remains Maybank’s largest shareholder with its 30.49% stake, ahead of the Employees Provident Fund’s 12.74% and Permodalan Nasional Bhd’s (PNB) 6.19%.

PNB’s wholly owned unit trust management company Amanah Saham Nasional Bhd (ASNB) is the fund manager of ASB.

Based on bourse filings, ASB has net acquired 47.13 million or a 0.39% stake in Maybank this year — acquired an aggregate 160.56 million shares and disposed 113.43 million shares.

Shares in Maybank remained unchanged at RM9.99 at Thursday’s close, valuing the bank at RM120.73 billion.

Year to date, the counter has risen 12.37%.