Khazanah selling 90.5m shares of CIMB for up to RM581m
SINGAPORE: Khazanah Nasional Bhd has launched a RM$571mil to RM$581mil (US$133mil to US$136mil) block in CIMB Group Holdings Bhd in the RM6.31 to RM6.42 per share range.
The price represents up to a 1.7% discount to the pre-deal close.
Around 90.5 million shares, or 1% of the share capital, are being sold in the block. There is an undisclosed upsize option depending upon the response to the offer.
There is a 60-day lock-up on Khazanah, which owns 29.1% of CIMB.
CIMB and JP Morgan are joint book runners. – IFR