PETALING JAYA: Khazanah Nasional Bhd has trimmed its holdings in Tenaga Nasional Bhd
(TNB) with the sale of another sizable block of shares, marking its second major disposal in two years.
In a filing, the sovereign wealth fund said it divested 135.65 million shares on Dec 4, cutting its direct stake to 15.82% or 921.97 million shares. Khazanah also retains an indirect 2.23% interest, bringing its total stake in the utility group to 18.05%.
The disposal price was not disclosed, although Bloomberg data showed the shares were transacted off-market at RM12.46 each, marginally below the closing price of RM12.50.
The block is estimated to have fetched RM1.69bil. Last year, Khazanah sold 118 million TNB shares, or a 2.03% stake.
Meanwhile, a separate filing showed that the Employees Provident Fund (EPF) acquired 40.18 million TNB shares, raising its stake to 21.25%, or 1.24 billion shares, further cementing its position as the group’s largest shareholder.
