Monday, October 3, 2011

OSK continues to be active on merger plans

KUALA LUMPUR: Shares of OSK HOLDINGS BHD [] continued to be actively traded on Monday, Oct 3 after it had last week announced plans for a merger with RHB CAPITAL BHD [].

At 9.35am, OSK was up four sen to RM1.60 with 4.51 million shares done.

The Edge weekly in the its latest edition reported that RHB Capital was likely to offer between 1.9 and 2.2 times book value for OSK Investment Bank Bhd.

Citing sources, the Edge said the merger, if agreed to by both parties, was likely to be financed entirely through the issuance of new RHB Capital shares to OSK or its shareholders.

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