Aberdeen becomes CIMB's major shareholder

Aberdeen becomes CIMB's major shareholder
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KUALA LUMPUR (Aug 21): UK-based Aberdeen Asset Management PLC has become a substantial shareholder in CIMB Group Holdings Bhd, after it bought a 5.4% stake in the Malaysian financial services provider.

In a filing to Bursa Malaysia today, CIMB (fundamental: 1.05; valuation: 2.25) said Aberdeen acquired the stake, comprising 458.84 million CIMB shares, last Friday (Aug 14).

At 5pm today, CIMB shares closed five sen or 1% lower at RM4.95, for a market capitalisation of RM42.02 billion.

The stock saw some 12 million shares done.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)