LTAT sells 112.56 million shares in Affin Bank to Sarawak state entity

KUALA LUMPUR: Affin Bank Bhd has confirmed that the Armed Forces Fund Board (LTAT) has divested 112.56 million shares in the bank to the State Financial Secretary Sarawak for RM221.74 million via a direct business transaction.

In a filing with Bursa Malaysia today, the bank said it sold the shares, representing 4.95 per cent of the total issued shares, for a cash consideration of RM1.97 per share.

"This is to clarify the media article entitled ‘LTAT to sell five per cent in Affin Bank to Sarawak state,’ which appeared in The Edge Malaysia the week of April 3 to April 9, 2023,” it said. - Bernama