Khazanah sells small stake in CIMB

The sovereign wealth fund said in a statement that the article had selectively focused on a

PETALING JAYA: Khazanah Nasional Bhd, the single largest shareholder in CIMB Group Holdings Bhd, is selling a small stake in the bank for at least RM364mil via a bookbuilding exercise.

Sources said Khazanah is seeking to dispose of 66.99 million shares in CIMB, which equals to a 0.66% stake in the bank, at between RM5.78 and RM5.90 a share.

The stock was last traded up 14 sen at RM5.90. Khazanah owns a 27.46% stake in CIMB before the sale.

CIMB and Credit Suisse are the joint bookrunner for the disposal.

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