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Sovereign Wealth Funds Briefing - Categorized | Financials

Khazanah sells TNB shares for RM407mln via placement

Posted on 14 December 2012

State-owned sovereign fund Khazanah Nasional Bhd has sold 60 million shares worth RM406.8 million in Tenaga Nasional Bhd (TNB) via a private placement exercise. The sale, seen as part of the sovereign fund’s divestment in government-linked companies, was managed by placement agents – CIMB Group Holdings Bhd and Deutsche Bank.
The shares sold represented 1.1% of TNB’s paid-up capital. Transacted at RM6.78 per share, the price represents a discount of 2% of TNB’s closing price on Tuesday. The shares closed three sen higher at RM6.95………………………………………..Full Article: Source

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