Chuanxingzhan acquires 29% equity, and Allianz Bank rises by 9.5% on hearing the news.

This news has inspired Allianz Bank's stock price trend, soaring 9.5% this morning to a high of 4.93 ringgit.

Allianz Bank opened at 4.60 ringgit this morning, then climbed to a peak of 4.93 ringgit, up 43 cents or 9.55%, before falling back, hovering around 4.76 ringgit.

According to the entire equity structure, the major shareholder of Allianz Bank is Vertical Theme Private Limited, holding 29.06% equity.

Among them, Langkah Bahagia Private Limited is considered to be related to Tun Dara, holding indirectly 14.8% equity of Allianz Bank through Vertical Theme Private Limited, while Singapore's state investment company Temasek Holdings indirectly holds 49% of Vertical Theme's equity.

The second largest shareholder of Allianz Bank is the Employees Provident Fund (EPF), currently holding 7.78% equity.

According to foreign media reports, it is rumored that DBS Bank intends to acquire 29.1% of Allianz Bank's shares from Temasek Holdings, with the value of the shares estimated at 0.460 billion US dollars (about 2.020 billion Malaysian Ringgit).

According to the equity structure, Temasek Holdings is currently one of DBS Bank's largest shareholders, holding 28.9% of the shares.

In addition, there are reports indicating that acquiring Allianz Bank's shares to enter the Malaysian market is not the only option, as it also includes purchasing the retail banking business under a Kuwaiti financial institution.

However, sources say that the discussions are still in the early stages, and any acquisition of bank shares will still require approval from the national banks.

Furthermore, sources also declined to disclose names as the acquisition negotiations are confidential, and DBS Bank's executives are unwilling to comment on market rumors and speculations; Temasek Holdings declined to comment.

As for BNM and Allianz Bank, they have not responded to this matter.

With the improvement of the economic outlook in Southeast Asia, DBS Bank is advancing to enter the Malaysian market, as new infrastructure projects and foreign investments are expected to drive a surge in loans.