Khazanah trims Tenaga stake through $130 million block trade

The deal attracts strong demand, particularly from domestic investors, and is priced at a tight 1.6% discount.
<div style="text-align: left;">
Tenaga is Malaysia's leading power company
</div>
<div style="text-align: left;"> Tenaga is Malaysia's leading power company </div>

Asian equity markets remained under pressure yesterday, adding to the woes of investors who have been losing money on many of the recent deals. But, as shown by a small block trade last night, when the right transaction comes along they are still eager to put their money to work.

In this case, the right transaction turned out to be a M$412 million $130 million sell-down in Tenaga Nasional by state-owned Malaysian investment company Khazanah Nasional. It is the second time in six months that Khazanah monetises a small portion of its holdings in the country’s leading power company after a similarly-sized block trade in December last year.

...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222