Khazanah Raises Around US$380 Mln From Sale Of 2% Of CIMB – Source

According to the Wall Street Journal, “Malaysian sovereign-wealth fund Khazanah Nasional Bhd. has raised around MYR1.18 billion (US$380 million) from the placement of 147 million shares in CIMB Group Holdings Bhd. (1023.KU), lowering its stake in the Southeast Asian banking group to 29.0% from 31.01%, a person familiar with the deal said Tuesday. The shares, representing around 2% of CIMB’s issued and paid-up share capital, were placed at MYR7.99 each to investors mainly in Asia and Europe, the person said.

CIMB’s shares closed Tuesday at MYR8.10. The placement was completed Monday night, the person said, at a 2% discount to their Monday closing level of MYR8.15.

UBS AG (UBS) was the sole bookrunner on the deal.”

Source: Wall Street Journal

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