Monday, 30 April 2012

RHB Capital, OSK up on getting nod for merger

KUALA LUMPUR (APRIL 30): Shares of RHB CAPITAL BHD [] and OSK HOLDINGS BHD [] advanced on Monday after they obtained the finance ministry's approval to merge RHB's banking group with OSK's investment bank, according to filings to the local bourse.

At 10.30am, RHB Capital added 12 sen to RM7.37 with 831,900 shares done while OSK gained five sen to RM1.61 with 1.11 million shares traded.

"Further details on the possible merger will be announced upon the execution of a conditional share purchase agreement between OSK and RHB," both RHB and OSK said in separate filings to Bursa Malaysis Securities Bhd last Friday.

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