ANZ sells 16.5% of shareholding in AmBank

AUCKLAND: ANZ has agreed to sell 16.5% of the issued capital in AMMB Holdings Bhd (AmBank) via a block trade at a price of MYR3.85 per share.

The sale will reduce ANZ’s shareholding in AmBank from 21.7% to 5.2% and is in line with ANZ’s strategy of simplifying the Bank.

Following the sale, ANZ will continue to have one nominated director on the AmBank Board.

The sale proceeds will increase ANZ’s CET1 ratio by approximately 16bps1
and are not expected to have a material impact on profit. Settlement is anticipated to occur on 8 March 2024.

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