Mubadala offers to sell $150 mln of shares in Malaysia's RHB Bank -sources | Reuters

Mubadala offers to sell $150 mln of shares in Malaysia's RHB Bank -sources | Reuters:

Abu Dhabi sovereign fund Mubadala Investment Company has offered to sell around $150 million worth of shares in Malaysia’s RHB Bank Bhd in a block trade on Tuesday, sources familiar with the deal said.

Mubadala, which is the second largest shareholder in RHB through the 17.8 percent stake held by its unit Aabar Investments, has put the shares up for sale in the 5.07 to 5.18 ringgit ($1.24-$1.26) range, two sources said.

The offer represents a 3-5 percent discount to RHB’s closing share price of 5.34 ringgit on Tuesday, and a steeper discount to the 10.80 ringgit Aabar paid per share when it bought a 25 percent stake from government-owned Abu Dhabi Commercial Bank in 2011.