Khazanah raises RM735m from sale of Telekom shares
Published on 22 May 2020. | Source: thestar.com.my
KUALA LUMPUR: Khazanah Nasional Bhd placed out 172.3 million shares in TELEKOM MALAYSIA BHD at RM4.27 per share, raising gross proceeds of RM735.70mil.
The sovereign wealth fund said on Friday the successful placement price was 3.61% below the closing market price of RM4.43 the previous day.
“The share placement exercise is part of the ongoing restructuring of Khazanah’s overall portfolio, with the proceeds to be utilised for future new investments and the diversification of Khazanah’s asset allocation.
“With strong market demand for the Malaysian blue-chip company, the share placement allows Khazanah to increase the free float and attractiveness of Telekom Malaysia as an investment, ” it said in a statement.
Khazanah said local long-only funds, foreign institutional investors and existing institutional investors took part in exercise.
“Domestic institutional investors make up a majority of the buyers.
“The share placement exercise is the largest telecommunications-related placement in Malaysia and the third largest in Asean so far this year, ” it said.
CIMB and Credit Suisse were joint bookrunners for the share placement exercise.
Topic:
50% readers found this article insightful
Directory Advertisement:
