Airports block lifts Malaysia ECM to new heights

Total equity fundraising in the country surpasses the full year total for 2016 after Khazanah Nasional sells a 3.5% stake in Malaysia Airports.

Khazanah Nasional sold part of its stake in Malaysia Airports on Tuesday through a M$476 $112 million overnight block trade, as the state investment fund continues to divest its non-core equity interest in certain government-linked companies GLCs.

The transaction did not come as a surprise and underscores Khazanah's strategy of gradually reducing its stake in GLCs in order to fund investment in foreign companies and financially-struggling local companies like Malaysia Airlines. It's also a sign of the relative strength of Malaysia's ECM market, which has now beaten its full-year fund-raising total for 2016.

The Malaysia Airports block trade is the second of its kind...

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