AEON Credit takes up additional AEON Bank shares

KUALA LUMPUR: Aeon Credit Service (M) Bhd has subscribed for a further 100 million new ordinary shares in its 50%-owned associate company AEON Bank (M) Bhd for RM100mil at an issue price of RM1 per share.

In a Bursa Malaysia filing, AEON Credit said its total shareholding in AEON Bank’s share capital has increased from 175 million ordinary shares to 275 million ordinary shares.

“Equity interest remains at 50% as the additional subscription is in proportion to all the shareholders’ shareholdings in AEON Bank,” it said.

AEON Credit said the additional subscription is for AEON Bank to fund its operating and capital expenditures and to continue to meet the minimum capital requirements as required by Bank Negara. — Bernama