KUALA LUMPUR, May 22\u00a0 –\u00a0Khazanah Nasional Bhd completes\u00a0placement of 172.3 million shares in Telekom Malaysia Bhd (TM) at RM4.27 per share, raising\u00a0gross proceeds of RM735.7 million as part of its on-going overall portfolio restructuring.<\/p>\n
The share placement exercise, which was\u00a0priced at \u00a03.61 per cent\u00a0discount to the closing\u00a0market price of RM4.43 on \u00a0May 21, 2020,\u00a0is the largest telecommunications-related placement in\u00a0Malaysia and the third largest in ASEAN so far this year.<\/p>\n
“The share placement exercise is part of the ongoing restructuring of Khazanah\u2019s overall portfolio, with the proceeds to be utilised for future new investments and the diversification of Khazanah\u2019s asset allocation,\u201d the sovereign wealth fund of Malaysia said\u00a0in a statement here, today.<\/p>\n
\u201cWith strong market demand for the Malaysian blue-chip company, the placement allows Khazanah to increase the free float and attractiveness of TM as an investment.\u201d<\/p>\n<\/div>\n
It said domestic long-only funds, foreign institutional investors and existing institutional investors participated in the share placement exercise.<\/p>\n
\u201cDomestic institutional investors make up a majority\u00a0of the buyers.\u201d<\/p>\n<\/div>\n
CIMB and Credit Suisse were joint bookrunners for the share placement exercise.<\/p>\n<\/div>\n
– BERNAMA<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
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