Malaysia's Maybank not bidding for Thailand's Bank of Ayudhya

Maybank clarified that its private placement exercise was a proactive move to boost its equity capital ahead of the implementation of the Basel III capital framework.

It recently embarked on a private placement exercise to raise RM3.66 billion through the issuance of 412 million new Maybank shares at an issue price of RM8.88 per placement share.

The statement quashed speculation that it was done to bid for a stake in the Bank of Ayudhya, a Thai company.

The book-building process was also to support the bank's growth objectives particularly in relation to the rapid expansion of its business in Indonesia, Philippines and other regional markets.

The new share issuance represented 4.98 per cent of the enlarged issued and paid-up capital of the bank as at  Sept 30, 2012.

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