Public Bank proposes RM378.6 million privatisation of Hong Kong-listed subsidiary
Public Bank Bhd's shares slipped 0.20% to RM4.99 after it proposed a RM378.6 million deal to privatise its Hong Kong-listed subsidiary, Public Financial Holdings Ltd (PFHL). The bank plans to acquire the remaining 26.77% stake it does not own for HK$2.50 per share in cash. The privatisation is subject to shareholder and court approvals, with a long-stop date of March 8, 2027.