Malaysia’s biggest pension fund and the much smaller haj pilgrimage fund have both raised their stakes in local Islamic lender BIMB Group Holdings by purchasing shares through private placements.
The Employees Provident Fund (EPF) acquired 45.87 million BIMB shares for 164.21 million ringgit (US$40.04 million), raising its stake to 13.42% from 11.21%, the banking group says in a filing to the local stock exchange on April 26.
Separately, the lender says pilgrimage fund board Lembaga Tabung Haji, BIMB’s biggest shareholder, acquired 12 million placement shares for 42.96 million ringgit, raising its stake to 48.03% from 47.45%.
There was no reason given and spokespersons for both the funds did not immediately respond to questions from