Abu Dhabi fund sells part of RHB stake at a big loss

In a rare deal in Malaysia’s subdued secondary market, sovereign wealth fund Mubadala Investment trimmed its stake in RHB through a $149 million block trade.

Abu Dhabi fund sells part of RHB stake at a big loss

One of Abu Dhabi’s sovereign wealth funds raised M$610 million $149 million after the market close on Tuesday by selling sale of a small stake in RHB Bank in what is only the second international follow-on offering out of Malaysia so far this year.

With only $732 million-worth of follow-on deals completed year-to-date, Malaysia looks set to record the lowest volume in secondary share sales since 2006, according to Dealogic. That...

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