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Article: AmBank to issue S$425m stapled securities
- Article from:
- New Straits Times
- Article date:
- March 12, 2008
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New Straits Times
03-12-2008
AmBank to issue S$425m stapled securities
Edition: Main/Lifestyle
Section: Business Times
Type: Company
AMBANK (M) Bhd is issuing up to S$425 million (RM977 million) of stapled securities as part of AMMB Holdings Bhd's proposed internal reorganisation.
Gross proceeds from the proposed issuance will fund the growth of AmBank's business operations, AmInvestment Bank Bhd told Bursa Malaysia yesterday.
AmInvestment Bank said the stapled securities will comprise of non-cumulative perpetual capital securities to be issued by AmBank, which will be stapled to Subordinated Notes to be issued by a wholly- owned subsidiary company of AmBank, namely AmCapital (L) Inc.
The ...