(Updated)

Trading of AMMB securities halted until end of tomorrow pending announcement

Trading of AMMB securities halted until end of tomorrow pending announcement
-A +A

KUALA LUMPUR (March 1): Trading of the securities in AMMB Holdings Bhd has been halted pending an announcement.

The group announced today that the company had requested for a suspension of trading of its securities for two days from 9am to 5pm today and tomorrow.

The group on Saturday (Feb 27) requested for the suspension of trading of its stock and structured warrants.

This comes after the banking group was slapped with a massive RM2.83 billion settlement on all outstanding claims and actions in relation to AmBank Group's involvement in the 1Malaysia Development Bhd (1MDB) corruption scandal.

The RM2.83 billion settlement is equivalent to nearly 30% of its market capitalisation based on last Friday’s closing at RM3.16.

Read also:
AmBank’s RM2.83 billion settlement linked to 1MDB likely to put share price on downhill, say analysts
ANZ writes down AmBank stake after 1MDB scandal settlement