Last month, Bank Rakyat received an approval from Bank Negara to increase its share capital by additional one billion units to three billion units. Cooperatives and Bank Rakyat members will be given priority in subscribing to the new shares.
Currently, there is a long waiting list for the share subscription with the demand value exceeding RM1 billion. High demand for the Bank Rakyat shares is due to its excellent performance. Bank Rakyat manage to maintain 15 percent annual dividend since 1999.
Due to high demand, not all who apply for the shares will get and those who do, will not receive the full amount. Non members comprise 40 percent of the waiting list.
The distribution of the new shares for those interested will be decided by the Bank Rakyat board in May.