Lankayan Ventures, a subsidiary of Khazanah Nasional, offloaded its entire stake in Westports Holdings, a container shipments group, on Friday.
Some 161.5 million shares were on offer between M$2.90 and M$2.92 per share, representing a 2.7% to 3.3% discount to the October 30 closing price of RM3.00, according to a term sheet.
Lankayan Ventures, wholly owned by the Malaysian state investment firm, sold its entire 4.74% stake in Westports.
Shares priced at M$2.90 per unit, the bottom of the indicative price range, with the accelerated share sale netting Lankayan M$468 million $142.6 million.
Twenty lines participated in the deal,...