The Employees Provident Fund (EPF) has disposed of 10 million shares in Malayan Banking Bhd (Maybank), reducing its direct shareholding in Malaysia’s largest banking group to 12.045%.
Maybank said the disposal took place on Sept 22 through Citigroup Nominees (Tempatan) Sdn Bhd, under an account held for the EPF.
Following the transaction, the retirement fund’s direct interest in Maybank stood at approximately 1.46 billion shares, representing 12.045% of the bank’s issued share capital.
The filing did not disclose the disposal price or total transaction value.
The EPF remains a substantial shareholder in Maybank following the disposal.
Maybank shares closed at 10.22, dropping close to 10% over the last six months.
