Maybank share buyers mostly local funds

PETALING JAYA: Buyers of Federal Land Development Authority’s (Felda) block in Malayan Banking Bhd (Maybank) were largely local funds, including the Employees Provident Fund, Permodalan Nasional Bhd and Retirement Fund Inc, according to sources.

A total of 35 million Maybank shares changed hands in off-market trades at RM8.05 each in several blocks yesterday. The total value of the trades amounted to RM281.75mil. Felda remained the fifth-largest shareholder in Maybank, although its stake has been reduced.