| RHB Capital Bhd. (RHBC) surged to a 14-year high after CIMB Group Holdings Bhd. (CIMB) and Malayan Banking Bhd. (MAY) won central bank approval to begin separate merger talks, triggering a battle to potentially create Southeast Asia’s biggest bank.
The Kuala Lumpur-based lender jumped 7.4 percent to 9.90 ringgit at the 5 p.m. close in Kuala Lumpur trading, its highest close since March 1997. With a market value of 21.7 billion ringgit ($7.2 billion), this would be the biggest banking deal in the Asia-Pacific region in the past three years, according to data compiled by Bloomberg..............................................Full Article: Source
|