KUALA LUMPUR: A total of 35 million shares of Malayan Banking Bhd was transacted in an off-market deal in late Tuesday afternoon. The shares were owned by the Federal Land Development Authority (Felda). Stock market data showed the shares were traded at RM8.05 each or RM281.75mil in several blocks. It was reported that Felda was seeking to sell about RM280mil worth of Maybank shares, paring down its stake in the nation’s biggest bank, weeks after the government agency said it would acquire a substantial stake in an Indonesian planter. According to The Wall Street Journal, quoting a term sheet, Felda is offering its Maybank shares at a price range of between RM8 and RM8.05 each.

Source: The Star January 17, 2017 07:52 UTC