CIMB: Sellers multiply as Khazanah trims again

Malaysia’s sovereign wealth fund raised $132 million through its second block sale of CIMB shares since July, and there is still room to cut its stake further.

CIMB: Sellers multiply as Khazanah trims again

Shares in CIMB, Malaysia’s second-biggest bank, fell to their lowest level in five months after state investment fund Khazanah Nasional trimmed its stake further through an overnight block trade that raised M$555 million $132 million.

The transaction's impact went far above its relatively tiny size. Investors took note because it came hot on the heels of Mitsubishi UFJ Financial Group's MUFG sale of its CIMB stake last month. What's more, it...

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