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The press conference of Popular Bank has been rescheduled to Thursday.
Popular Bank $PBBANK (1295.MY)$ The press conference originally scheduled for this Friday (11th) has been moved forward to Thursday noon.
Popular Bank did not disclose the reason for the early press conference, nor did it reveal the main content of the press conference. In the media invitation, it was only mentioned that this was to announce a major corporate news.
Public banks and their affiliated insurance company Lund Ping. $LPI (8621.MY)$ will suspend trading together from 9:00 a.m. today, believing it is related to the above major corporate news.
Consolidated Teh Holdings Sdn Bhd, an investment holding company founded by the late Tan Sri Teh Hong Piow, is a major shareholder of both Public Bank and Lund Ping.
Yesterday, there were numerous media reports stating that Public Bank would acquire Lund Ping. Today, Bloomberg also cited some anonymous sources, indicating that Public Bank will acquire nearly 43% of Lund Ping's shares held by Consolidated Teh Holdings through cash and stock acquisition.
Once this transaction is finalized, Public Bank will trigger a mandatory general offer for Lund Ping, and sources say that the purpose of Public Bank's acquisition is to become a comprehensive full-service bank, providing a wide range of financial services.
Source of information: Nanyang Business Daily
Disclaimer: This content is for reference and educational purposes only...

October 8, 2024 - $KHB (0322.MY)$ rose by 10% on its first trading day on Tuesday, reaching a price of RM0.22 from an issue price of RM0.20. Moreover, the public portion of its initial public offering (IPO) was oversubscribed by 124 times.
Significantly, KHB published its financial report for the second quarter of 2024 on October 4. The report revealed that the company's revenue for the quarter reached RM23.99 million, with a net profit attributable ...

$OBHB (0327.MY)$ I am not bullish on using funds raised from IPO to repay bank loans, and also using half of it to repay. It is the first company I am not drawing IPO from this year. Everyone should consider it carefully. 🫣