Following a Restricted Offer for Sale (ROFS) made to directors and employees of the Public Bank Group, Consolidated Teh Holdings Sdn Bhd (ConsTeh) has effectively disposed of 250.913 million shares in Public Bank Berhad on 9 June 2026. This represents a 1.9% of the bank’s share capital. This is in line with the family’s plans to pare down their shareholding in Public Bank to 10% over a five-year period in compliance with the Financial Services Act.

Interestingly, share trading volume spiked to 108.6 million shares on 29 May 2026 closing at RM4.71 with a traded price range of RM4.66 to RM4.79. PBBANK share price has largely fluctuated in the RM4.70 to RM4.90 range in the month of May with an average daily trading volume of 19.9 million shares excluding the unusually large volume on 29 May. The average daily trading volume for 2025 was 16.9 million shares.

(LKFP: If we peg the share price at RM4.80 and apply 7 to 10% discount, it would imply a share price of between RM4.32 to 4.46 per share for this  ROFS tranche. Taking the average as a guesstimate, employees are possibly paying RM4.39 per share. There may be some selling pressure from RM4.50 to 4.80 before the market absorbs it.)

Following the disposal, ConsTeh still holds 3,899,767,275 shares or slightly over 20% in the banking group, which means it needs to further divest 2 billion or so shares before end of year 2029.