Khazanah sells 85m Tenaga shares for over RM1b

KUALA LUMPUR: Tenaga Nasional saw 85 million of its shares transacted in an off-market deal on Friday at an average price of RM11.87 each for RM1.008bil.

Stock market data showed the shares were transacted at 43 sen below Thursday’s closing price of RM12.30.

In regular trade, shares of the power giant fell 14 sen to RM12.16.

The 85 million shares match the block which sovereign wealth fund Khazanah Nasional Bhd was selling.

StarBiz reported it was selling 74 million shares or 1.3% in Tenaga via an accelerated book-building exercise. There was a further upsize option of 11 million shares.

The book-building price range was RM11.83 to RM12.30 per share, valuing the deal between RM875.4mil and RM910.2mil.

The placement is offered at a discount of 0% to 3.82%, based on Tenaga’s closing price of RM12.30 on April 23.

As for the vendor, there is a 60-day lock-up period for all shares held by Khazanah post-placement.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Alibaba’s Lazada hires Ant Group veteran to head up payments
ACCCIM welcomes govt approval to bring in 32,000 foreign workers for plantation sector
Gadang bags Central Spine road subcontract worth RM100mil
Digital drive propels Eco World sales growth in Q3�
KLCI in the red as key heavyweights weigh
Oil fall as US storm-hit supply makes slow return
UOB Kay Hian upbeat on gaming as NFOs restart operations
With creditor talks progress, AirAsia X eyes end-Oct meets
China seen holding benchmark rate in Sept, some expect more liquidity support
Asian shares steady, but set for weekly losses as global growth fears nag

Stories You'll Enjoy