AmBank shares, warrants plummet after RM2.8bil 1MDB settlement
PETALING JAYA: AMMB Holdings Bhd’s share and structured warrant prices have tumbled in the wake of AmBank’s RM2.8 billion settlement for its involvement in the 1MDB scandal. Trading on its shares had been suspended for two days following the announcement on the settlement with the finance ministry. The Edge reported…
PETALING JAYA: AMMB Holdings Bhd’s share and structured warrant prices have tumbled in the wake of AmBank’s RM2.8 billion settlement for its involvement in the 1MDB scandal.
Trading on its shares had been suspended for two days following the announcement on the settlement with the finance ministry.
The Edge reported that when trading resumed at 9am today, AMMB’s share price fell 51 sen (16.14%) to RM2.65 while its structured warrant, AMBANK-C22, dropped 12.5 sen (83.33%) to just 2.5 sen.
At the time of writing, AmBank’s share price stood at RM2.81, a decline of 11.07%.
Last week’s settlement was part of the government’s continuing recovery efforts against all parties directly or indirectly involved in 1MDB and its related entities.
The global settlement by AMMB was also in line with the requirements of the Securities Commission of Malaysia in compliance with its laws and guidelines. — Free Malaysia Today