PBBANK returns to the top three in market cap, surpassing TENAGA and closely following CIMB.

Less than half an hour after the market opened on Monday, Public Bank reported 4.44 Ringgit, the highest price of the day, up 13 sen or 3%; its market cap correspondingly increased to 85.4 billion Ringgit, easily surpassing Tenaga Nasional's 84 billion Ringgit.

By the closing bell, Public Bank slightly retraced its gains, closing at 4.39 Ringgit, up 8 sen or 1.86%, with a market cap of 85.2 billion and 12.94 million Ringgit, maintaining its third position; a total of 52.16 million and 8700 shares changed hands, making it the fourth hottest stock.

However, Public Bank still failed to surpass Malayan Banking Berhad, the latter's market cap remains in second place at 88.4 billion and 28.03 million Ringgit.

Last Thursday, following the announcement that the descendants of the late Tan Sri Teh Hong Piow would gradually discount and divest their stake in Public Bank to 10%, the stock price plummeted by 5% on Friday, causing a market cap loss of over 5 billion in a single day and dropping out of the top three.

This is mainly due to the restrictive stock sale activities of the Teh family, which may cause concerns about the decline in Public Bank's stock price as a large amount of shares are yet to be sold.

The Zheng family is expected to sell 13.41% of the shares, based on a total of 19.411 million shares of Public Banks, equivalent to 2.62 million shares.

Earlier, analysts at Kenna Investment Bank calculated that the 2.6 billion shares of shares for sale would mean that the Zheng family would sell an average of 40 million shares per month over 60 months.