Public Bank To Privatise Hong Kong Subsidiary At HK$2.50 Per Share
KUALA LUMPUR, Sept 8 (Bernama) -- Public Bank Bhd has proposed to privatise its 73.23 per cent-owned subsidiary Public Financial Holdings Ltd (PFHL) for HK$2.50 (RM1.29) per share.
In a filing with Bursa Malaysia, Public Bank said that upon the privatisation, PFHL will issue an equivalent number of new shares to the offeror, credited as fully paid, to maintain the company’s share capital.
It said that upon completion, PFHL will become wholly owned by the offeror.
“Following completion of the scheme, the listing of PFHL shares on the Hong Kong Stock Exchange will be withdrawn in accordance with the applicable listing rules,” the bank said.
Public Bank said the cancellation price of HK$2.50 per share represents a premium of 61.29 per cent over PFHL’s latest closing price. Additionally, this price represents a premium of between 73.61 per cent and 83.82 per cent when compared to its average closing prices over the past 30 to 360 trading days.
However, it represents discounts of 64.64 per cent and 64.69 per cent to PFHL’s audited and unaudited net asset value per share as at Dec 31, 2025 and June 30, 2026, respectively.
Public Bank stated that the proposals offer scheme shareholders a chance to cash out their investments immediately at an appealing premium compared to the historical trading prices of PFHL shares.
Additionally, these proposals aim to simplify PFHL’s ownership structure, allowing for better alignment and more efficient coordination between PFHL and Public Bank, along with its subsidiaries.
It also stated that privatisation will eliminate the costs and administrative burden associated with maintaining PFHL’s listing and allow resources to be focused more directly on its banking operations.
“The proposals are expected to be earnings accretive and contribute positively to the future earnings and earnings per share of the Public Bank Group,” it added.
The PFHL Group is principally engaged in the business of providing a comprehensive range of banking and financial services, stockbroking, the letting of investment properties, the provision of financing to purchasers of taxis and public light buses, the trading of taxi cabs and taxi licences, and the leasing of taxis.
-- BERNAMA