Khazanah raises $133 million from Tenaga block trade

The deal comes less than a week after the Malaysian investment company exited AIA and is seen as part of a long-term plan to gradually reduce its holdings in a number of Malaysian companies.

With little more than two weeks left of the year, Khazanah Nasional last night raised another M$406.8 million $133 million towards its coffers by trimming its stake ever so slightly in Malaysia’s leading power company, Tenaga Nasional.

The state-owned Malaysian investment company has been monetising parts of its holdings in several portfolio companies this year, including two more trades in the past couple of weeks. The biggest of those was the $356 million sell-down of in AIA, which marked Khazanah’s exit from the Hong Kong-listed life insurer. Two weeks ago it also sold an 8.8% stake in Malaysia Airports, raising $190 million.  

Earlier in the...

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