Khazanah raised RM664.5 million from CIMB share placement


Khazanah Nasional Bhd completed a placement of 138.4 million shares or 14% in CIMB Group Holdings Bhd at RM4.80 per share and raised RM664.5 million.

In a statement today the group said the placement price represents a 2.8% discount to the closing market price of RM4.94 on Wednesday.

“The share placement exercise is part of Khazanah’s on-going efforts to rebalance its portfolio and recycle its investments into new assets in Malaysia and globally, including new investments under Dana Impak,” it said.

Dana Impak is aimed at catalysing new growth areas, building the country’s economic competitiveness and increasing national resilience while prioritising socioeconomic outcomes which are in line with the objectives of the Perkukuh Pelaburan Rakyat initiative outlined by the government.

Following the placement, the sovereign wealth funds remains the single largest shareholder of CIMB at 25.6%.

“The shares were placed to a good mix of government linked funds, domestic and foreign long-only institutional investors, existing holders and multi-strategy funds.

“CIMB and Credit Suisse were joint book runners for the share placement exercise,” it added.

Perkukuh was announced by former prime minister Tan Sri Muhyiddin Yassin last month which aims to improve and position government-linked investment companies (GLICs) better in the long run.