CIMB Group Holdings has categorically denied plans to privatise PT Bank CIMB Niaga, its Indonesian banking subsidiary.

The Malaysian banking group issued the statement in response to recent news reports on a possible CIMB Niaga privatisation.

“The Group has made no decision and tabled no formal proposal in relation to the potential privatisation of CIMB Niaga,”

the company said.

According to the statement, CIMB Niaga remains part of the group’s regional footprint, and CIMB remains committed to its operations in Indonesia.

CIMB added that it will continue to meet all applicable regulatory guidelines in a timely and structured manner, including minimum free float requirements.

Under these rules, a minimum portion of a listed company’s shares must be held by public investors.

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