TNB shoots down power generation unit IPO talks


KUALA LUMPUR: Tenaga Nasional Bhd has denied reports suggesting that the utility firm is looking to spin off in its power generation unit.

"The Company is not working on any groundwork for a listing at the current moment as its focus is to drive operational efficiency for the Generation company," TNB told Bursa Malaysia in a filing today.

TNB, on Oct 1, has completed the reorganisation of TNB Power Generation Sdn Bhd as part of its strategic transformation plan, Reimagining TNB.

"This exercise aims to group together and corporatise divisions in TNB as wholly-owned subsidiaries of TNB, for increased focus, efficiency and transparency," it said.

In the meantime, TNB said it will continue "to explore opportunities" to further enhance the shareholder's value.

"TNB will make the necessary announcement if there is any change to this, in accordance with TNB’s disclosure obligations as per Main Market Listing Requirements of Bursa Malaysia Securities Bhd," it said.

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Tenaga Nasional , TNB , IPO

   

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