KUALA LUMPUR (Sept 11): Affin Bank Bhd's largest shareholder, Lembaga Tabung Angkatan Tentera (LTAT), has acquired 35.91 million Affin shares under the bank's dividend reinvestment plan (DRP).

In a filing with Bursa Malaysia today, Affin said the Armed Forces Fund Board's shareholding in the bank now stands at 733.5 million shares, which represent about 36.9% equity interest based on Affin's outstanding shares of 1.98 billion units.

Affin previously announced that it would be issuing 93.77 million new shares under the DRP, based on the valid dividend reinvestment forms received as at Aug 28. The DRP shares represent about 91.74% of the total 102.21 million new Affin shares that would have been issued had all the entitled shareholders elected to reinvest their respective entitlements in new Affin shares.

Affin's two other major shareholders are Bank of East Asia Ltd and Boustead Holdings Bhd with equity interests of 23.6% and 20.7%, respectively. LTAT is also the largest shareholder of the latter with a 59.4% stake.

Shares in Affin settled one sen or 0.71% higher at RM1.41 with 563,500 units done. This gives the counter a market capitalisation of RM2.93 billion.