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: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Business News

OCBC to promote customer switch to digital token access
FBM KLCI fails to rebound, oil prices rise on supply cut plans
MISC's two LNG carrier charter contracts to contribute up to RM40mil in profit from 2026 - RHB
Gumusut-Kakap deepwater field achieves first oil production
Ringgit retreats as investors opt for dollar safe haven
Net foreign outflow on Bursa grows to RM740.6mil in week ended Sept 30
Bursa remains wobbly ahead of Budget 2023 despite investors' hope for reprieve in 4Q
Trading ideas: Sarawak Cable, Mudajaya, Pestech, Cypark, MBSB, Ageson and Destini
Argentine poverty remains above pre-pandemic level
Meetings in US to help with budget preparation

Others Also Read