Khazanah Nasional Sells Some Shares in Telekom Malaysia
Posted on 05/22/2020
Malaysia’s Khazanah Nasional Berhad sold off 172.3 million shares in Telekom Malaysia Bhd, receiving gross proceeds of 735.7 million MYR. CIMB and Credit Suisse were joint bookrunners for the share placement exercise. The placement price used was 4.27 MYR per share, which was a 3.61% discount from Telekom Malaysia’s closing price of 4.43 MYR on May 21, 2020. Buyers of the shares with Malaysian long-only funds, foreign institutional investors, and existing institutional investors. Telekom Malaysia is a Malaysian telecommunications company, with a history dating back to 1946. Telekom Malaysia witnessed its first quarter 2020 net profit fall by a half from a year earlier to be 152.25 million MYR.
In the previous week, Khazanah sold 12 million shares, or roughly an 11.59% stake, in Malaysian Genomics Resource Centre Bhd, an ACE market-listed genetics screening company.