Public Bank proposes RM378.6m privatisation of Hong Kong unit PFHL
Public Bank Bhd has proposed to privatise its 73.23%-owned Hong Kong-listed subsidiary, Public Financial Holdings Ltd (PFHL), for HK$734.75 million (RM378.6 million) in cash. The move will see Public Bank acquire the remaining 26.77% stake and delist PFHL from the Hong Kong Stock Exchange. The offer price of HK$2.50 per share represents a 61.29% premium over PFHL's last closing price.