Login Register

Logo of Phnom Penh Post newspaper Phnom Penh Post - Canadians paid $103M for ABA stake: source

Canadians paid $103M for ABA stake: source

| Publication date 11 May 2016 | 07:18 ICT

Canadians paid $103M for ABA stake: source

The National Bank of Canada paid $103 million to increase its stake in Cambodia-based Advanced Bank of Asia (ABA Bank) from 42 per cent to 90 per cent, the Canadian press said yesterday, reporting on the acquisition announced on Monday.

National Bank of Canada took a controlling stake in ABA Bank with the share purchase, raising its total investment in the bank to $148 million.

A previous version of this article incorrectly stated that National Bank of Canada had acquired an additional stake in ABA Bank by purchasing shares from the bank's CEO, Askhat Azhikhanov. Records show, however, that Mr. Azhikhanov is not a shareholder in the bank. The Post apologises for any inconvenience caused.

MOST VIEWED

  • Omicron patients can stay home: PM

    The Ministry of Health has issued a directive on the treatment of people who have tested positive for the highly transmissible Omicron coronavirus variant, following a suggestion from Prime Minister Hun Sen on the night of January 21. The directive permits home quarantine for those who

  • Cambodia’s first ever anime festival kicks off Jan 22 at capital’s F3 centre

    Phnom Penh's first ever Anime Festival will bring together fans, artists, shops and other local businesses with ties to the Japanese animation style for cosplay competitions, online games, pop-up shops and more on January 22, with Friends Futures Factory (F3) hosting. F3 is a project that

  • Mr Pancake or M Crepe? Tasty by any title

    Crowds of people gather around a lone man with a mobile food cart every day at around 2pm in front of the Institut Francais du Cambodge to order what many say are the best crepes in Phnom Penh. To some – even to the man making

  • Phnom Penh condo market loses steam

    Just four new condominiums were launched for sale last year in the capital, down from 17 in 2020, according to research by CBRE Cambodia. The four developments comprised “more than 1,000” units, while the 17 in 2020 consisted of 10,866, the real estate firm reported. CBRE Cambodia categorises condos as “high-range”, “

  • Fourth dose Covid booster drive jabs 43K in two days

    In the first two days of the fourth-dose Covid-19 vaccination campaign, more than 43,000 people volunteered to get the jabs, while over 4.6 million people have received a third shot. Health ministry spokeswoman Or Vandine said that fourth-dose vaccinations, which began on January 14 exclusively with the Pfizer

  • Molnupiravir treatments available at Cambodia Post

    The working group overseeing the management, distribution and supply of strategic drugs in the fight against Covid-19 at the Ministry of Post and Telecommunications has begun distributing 200mg molnupiravir capsules with the brand name Molnatris at all branches of its Cambodia Post from January 19 in

Related articles