Khazanah Nasional Berhad (“Khazanah”) is pleased to announce that on 9 November 2005, through its wholly-owned subsidiary Pangkor Investments (Cayman Island) Limited, agreed to purchase 54,648,000 shares (or 9.9% of the enlarged issued share capital) of Parkson Retail Group Limited (Parkson).
The purchase forms part of the international placing in connection with the Hong Kong Public Offering of Parkson shares and will be at the offer price, which will be fixed on or before 23 November, 2005. Parkson has received approval to list on the Main Board of the Stock Exchange of Hong Kong Limited which is schecduled for the 30th November 2005.
The stake in Parkson marks Khazanah’s first investment in the People’s Republic of China. Parkson operates and manages the largest network of foreign-owned department stores in China. Khazanah believes the investment in Parkson will present a strong platform to participate in one of Asia’s fastest growing economy and the broader retail and consumer industry in China.