DBS Group increases stake in DBS Bank with $1.35b

By CARINE LEE


DBS Group Holdings Ltd on Tuesday announced that it has subscribed for 116.18 million shares in the capital of DBS Bank Ltd for $1.35 billion.

Funded by internal resources, DBS Group satisfied the purchase wholly in cash.

Following the subscription, DBS Group now holds 2.17 billion ordinary shares in its wholly-owned subsidiary, DBS Bank.