ANZ has agreed to sell the remaining 5.2% of its issued share capital to AMMB Holdings Bhd (AmBank) through a block deal at a price of MYR4.10 per share.
ANZ Chief Financial Officer Farhan Faruqui said:
“The sale of our equity stake in AmBank is an important milestone in the implementation of our strategy to simplify the Bank. We appreciated our cooperation with AmBank and wish the group the best of luck.”
Proceeds from the sale will increase ANZ’s CET1 ratio by around 5 basis points, which is in addition to the 16 basis points of capital released from the sale of the initial block of 16.5% of AmBank shares in March 2024. The proceeds from the sale will not have a significant effect on earnings.
The settlement is expected to take place on June 5, 2024.