25 May 2012
RHB and OSK Merger Update: RHB Capital and OSK Holdings receives approval from Securities Commission for merger
(RHBCAP opening stock price today (25.5.2012) was RM 7.42)
RHB Capital Bhd and OSK Holdings Bhd have received approval from Malaysia's Securities Commission (SC) to merge RHB's banking group with OSK's investment bank, according to a filing with Bursa Malaysia.
"Further details on the possible merger will be announced upon the execution of a conditional share purchase agreement between OSK and RHB," OSK said yesterday.
The Finance Ministry gave its approval on April 28.
The merged entity will become the country's biggest domestic stockbroker, overtaking CIMB Group Holdings Bhd