Kuala Lumpur Kepong block fetches $158m

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By Jonathan Breen
04 Oct 2019

An undisclosed institutional investor has bagged MR663.6m ($158.5m) from offloading its entire position in Malaysian plantation company Kuala Lumpur Kepong.

Sole bookrunner JP Morgan marketed the vendor’s entire stake of 31.6m shares, or 2.83% of KL Kepong’s equity capital, after markets closed on Thursday.

Following an accelerated bookbuild, the vendor priced the stock at MR21 apiece, according to Dealogic, giving investors a 7.8% discount to the stock’s last ...

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