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.