Aabar’s block sale of RHB Bank an opportunistic deal

Within a span of less than five recent market days, the managers swooped up some RM3.9bil worth of stock in three major block sales. It began last week, when Petroliam Nasional Bhd (Petronas) put up for sale a minimum of close to 6% of MISC Bhd, valued at RM1.8bil and 7.7% of KLCCP Stapled Group (KLCCSS), valued at RM996.8mil.

RARELY do institutional fund managers decide on any big purchases towards the end of the year when they are usually busy closing their books. Yet within a span of less than five recent market days, the managers swooped up some RM3.9bil worth of stock in three major block sales.

It began last week, when Petroliam Nasional Bhd (Petronas) put up for sale a minimum of close to 6% of MISC Bhd, valued at RM1.8bil and 7.7% of KLCCP Stapled Group (KLCCSS), valued at RM996.8mil.