M-Oriental Bank is seeking to strip current shareholders of their pre-emptive rights in a bid to raise additional capital from new investors as it races to comply with new statutory requirements that take effect at the end of the year.
The small lender has called an extraordinary general meeting of its shareholders, at which it will be ask them to forgo their pre-emptive rights to buy new shares being created, opening the door for deep-pocketed investors to join its ownership register.
