Malaysia's Maybank plans up to $1.2 bln stock offering - IFR
HONG KONG, Oct 5 (Reuters) - Malayan Banking Bhd (Maybank) , Malaysia's largest lender, plans to raise up to $1.2 billion in a stock offering to bolster its capital base, IFR reported on Friday, citing a term sheet of the transaction.
The bank is offering 300 million new shares in the base offering, which may grow by an additional 112 million shares depending on the demand, added IFR, a Thomson Reuters publication.
The shares are being offered at a range of 8.8-8.9 ringgit each, equivalent to a discount of up to 3 percent to the average trading price over the previous five days.
Maybank and UBS are managing the offering, IFR added.
(Reporting by Daniel Stanton of IFR; Writing by Elzio Barreto; Editing by Muralikumar Anantharaman)
Keywords: MAYBANK OFFERING/