Raja Shahreen Raja Othman, who is currently the CEO of Selangor
KUALA LUMPUR: IHH Healthcare Bhd
saw 1.403 billion shares transacted in an off-market deal on Tuesday with a total value of RM8.418bil.
Stock market data showed the shares were crossed at RM6 each or 15sen above Monday's closing price of RM5.85.
Based on the paid-up of 8.769 billion shares, the 1.403 billion shares accounted for a 16% stake.
This matches with the block of shares and pricing which Khazanah Nasional Bhd announced in November it was selling to Japan's Mitsui & Co Ltd. The sale was set to be completed in the firs quarter of 2019.
Khazanah move to sell down its stake in IHH Healthcare marked the start of an asset rationalisation exercise.
Following the disposal, Khazanah’s shareholding in IHH will decrease to 26.05% based on the enlarged share capital of IHH after the completion of the acquisition of 30% additional equity interest in Acibadem Saglik Yatirimlari Holding AS by IHH.
"This transaction forms an important part of the restructuring of Khazanah’s portfolio, and the proceeds raised will be utilised for new investments and capital requirements,” the sovereign wealth fund stated last November.
"Khazanah will continue to be a significant shareholder with representation on the Board of IHH, and will provide stability to the shareholder base of IHH for the foreseeable future," it said.
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