Khazanah Nasional Bhd has successfully completed a placement of 138.4 million shares in CIMB Group Holdings Bhd (CIMB Group) at RM4.80 per share, raising gross proceeds of RM664.5 million.
The placement price represents a 2.8 percent discount to the CIMB Group’s closing market price of RM4.94 on Sept 8, 2021.
“The move is part of Khazanah’s ongoing efforts to rebalance its portfolio and recycle its investments into new assets in Malaysia and globally, including new investments under Dana Impak,” said the sovereign wealth fund in a statement today.
In line with the government's Perkukuh Pelaburan Rakyat initiative, Dana Impak aims to catalyse new growth areas, build Malaysia's economic competitiveness, and increase national resilience while driving priority socio-economic outcomes.
Following the placement, Khazanah remains the single largest shareholder of CIMB at 25.6 percent.
The shares were placed to a good mix of government-linked funds, domestic and foreign long-only institutional investors, existing shareholders, and multi-strategy funds.
CIMB and Credit Suisse were joint book-runners for the share placement exercise.
- Bernama
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