Khazanah clarifies on CIMB shares sale

  • Business
  • Wednesday, 17 Jul 2019

KUALA LUMPUR: Khazanah Nasional Bhd has clarified that it has not dispose of its shares in CIMB Group Holdings Bhd.

“Khazanah wishes to clarify that it did not dispose of the CIMB Group shares as reported,” Khazanah said in a statement Wednesday. 

“The shares were transferred pursuant to securities lending agreements that Khazanah had entered into with CGS-CIMB Securities Sdn Bhd, Credit Suisse Securities (Europe) Limited and J.P. Morgan Securities PLC respectively, in relation to an exchangeable bond issued recently. 

“The exchangeable bond will not have a dilutive effect on CIMB’s earnings per share,” it added. 

The sovereign wealth fund said the issuance of exchangeable bonds was part of Khazanah’s regular financing activities. Since 2004, Khazanah has issued 10 exchangeable bonds.

Earlier, an English business daily reported that Khazanah has disposed of 335.70 million shares in CIMB Group Holdings Bhd, representing some 3.45% stake in the banking group, valued at an estimated RM1.75bil.
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Khazanah , CIMB


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