Khazanah times its $321m exchangeable to perfection

Malaysia’s sovereign fund sells $321 million of sukuk exchangeable into Hong Kong-listed Citic Securities amid a strong run in the underlying stock.

Malaysian state investment fund Khazanah Nasional took advantage of Hong Kong’s red-hot stock market to issue $320.8 million worth of sukuk exchangeable into Citic Securities’ H-shares, extending its recent practice of issuing Islamic exchangeable securities almost every year.

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