Khazanah launches $209m Tenaga block

electricity pylons at sunset px230 for gc
By Jonathan Breen
23 Apr 2020

Malaysian sovereign wealth fund Khazanah Nasional is in the market to offload a chunk of Tenaga Nasional shares. It is looking to raise up to MR910.2m ($208.8m) from the block.

Bookrunners CIMB and Credit Suisse launched bookbuilding for the deal on Thursday after markets closed in Malaysia, according to a term sheet seen by GlobalCapital Asia.

Khazanah is selling 74m secondary shares in Tenaga — Malaysia’s state-backed electricity company — equal to 1.3% of its outstanding share capital.

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