Malaysia's P&O jumps 9 pct after report of possible stake sale
KUALA LUMPUR |
KUALA LUMPUR Aug 13 (Reuters) - Shares in Malaysian insurer Pacific & Orient (P&O) jumped more than 9 percent on Monday on a report that South African financial services firm Sanlam Ltd was eyeing a 49 percent stake in the company.
The Edge Weekly quoted sources as saying Sanlam may pay over two times the net assets of P&O and it plans to submit documents for approval to the central bank by September.
(Reporting by Niluksi Koswanage; Editing by Al-Zaquan Amer Hamzah)
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