Lafarge sells part of Malaysian business in $185m block trade
Lafarge, the French building materials group, sold part of its Malaysian business last week, raising M$594m ($185.5m) in an accelerated bookbuild that marks the largest share placement in Malaysia this year.
Lafarge sold a 11.2% stake in Lafarge Malayan Cement as part of a divestment programme it laid out earlier ths year, but it still remains majority shareholder at 51%.
Sole bookrunner RBS launched the bookbuild late on Thursday night. It comprised 95.153m existing shares priced at M$6.24, a narrow
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