Khazanah offloads 5% stake in TM for MYR581 million

21 Jul 2010

Malaysia’s state investment arm Khazanah Nasional has divested a 5% stake in the country’s fixed line incumbent Telekom Malaysia™, the Star Online reports. It is understood that a share placement exercise of 178.87 million shares conducted by Khazanah launched on a fixed price of MYR3.25 (USD1.01) per share to local and foreign investors, with the stake sale raising approximately MYR581 million. It is thought that of the shares sold around 70% were snapped up by domestic investors. Following the share sale Khazanah’s stake in the operator has fallen to just below 37%.

Malaysia, Telekom Malaysia