KUALA LUMPUR, Jan 2 — Public Bank Bhd (PBB) is to merge its local and foreign shares traded on Bursa Malaysia.

In a filing to Bursa Malaysia today, PBB said it was no longer relevant to have separate quotation of its shares under the current Central Depository System environment.

The bank said its entire issued and paid-up share capital would be quoted and traded on Bursa Malaysia under a single stock code 1295.

It said the proposed merger of local and foreign shares would be undertaken without any form of compensation to the shareholders.

“The proposal is estimated to be completed in the second quarter of 2014,” it said. — Bernama