Khazanah offloads stake in Westports

The Malaysian investment firm, which was a pre-IPO investor in the container shipments company, raised $142.6 million from the share sale.

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,...

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