$CEB (5311.MY)$ Who is this legendary Chung?

$YTLPOWR (6742.MY)$ , a public utility conpany, has garnered significant attention from investors on the Bursa Malaysia. Riding the wave of data center growth, the company's stock price soared by over 120% in the first half of 2024. However, since the second half of this year, the share price has plummeted, nearly erasing all gains made earlier this year.
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Corporate activities faced market resistance, both PBBANK and LPI stocks dropped 3% in the morning session.
(Kuala Lumpur 11th news) The market has a negative view of Public Bank. $PBBANK (1295.MY)$ and RHB $LPI (8621.MY)$The stocks of both companies announced in the event yesterday opened lower with a gap down, falling by around 3%.
As of 9:30 am, Public Bank was trading at 4.42 ringgit, down 15 cents or 3.28%, hovering at low levels in the morning.
The share price of RHB acquired at a low price fluctuates more intensely, down 38 cents or 2.92% as of 9:30 am, trading at 12.62 ringgit.
Public Bank and RHB had halted trading for two days earlier and announced an acquisition plan yesterday. Public Bank offered 1.7 billion ringgit to acquire a 44.15% stake in RHB from the late founder and major shareholder, the family of the late Tan Sri The Hong Pee.
The acquisition price of 9.80 ringgit per share is 25% cheaper than the market price, triggering market reluctance.
On the other hand, the Tansri family also announced a gradual reduction of their stake in Public Bank to 10% within 5 years to comply with national regulations.
According to the annual report of Public Banks, the Zheng family currently holds 21.64% of the shares of Public Banks; the 11.64% of shares they have sold will be worth more than 10 billion ringgit.
Source of information: Nanyang Business Daily
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