Malayan Banking Bhd (Maybank) rose 0.5% in late morning trade on Friday, despite Amanah Saham Bumiputera (ASB) having disposed of 13 million shares in the bank earlier this week.
As of 10.56am, Maybank gained five sen to RM10.00, after opening at RM9.95. The stock traded between RM9.93 and RM10.02 during the session.
Some 1.33 million shares had changed hands, with the last done price above the previous adjusted close of RM9.95.
At the time, 598,000 shares were queued to buy at RM9.99 while 1.52 million shares were queued to sell at RM10.00.
Maybank disclosed on Oct 1 that AmanahRaya Trustees Bhd, as trustee for ASB, had disposed of 13 million shares on Sept 29 through a sale of shares.
Following the disposal, ASB’s direct stake in Maybank stood at 3.418 billion shares, representing 28.261% of the bank’s issued shares.
The notice of change in substantial shareholding was dated Sept 29 and received by Maybank on Oct 1.
