Khazanah Nasional Berhad (“Khazanah”) wishes to announce that it has successfully completed a placement of 138.4 million shares (c. 1.4%) in CIMB Group Holdings Berhad (“CIMB”) at RM4.80 per share, raising gross proceeds of RM664.5 million. The placement price represents a 2.8% discount to the closing market price of RM4.94 on 8 September 2021.
The share placement exercise is part of Khazanah’s on-going efforts to rebalance its portfolio and recycle its investments into new assets in Malaysia and globally, including new investments under Dana Impak. In line with the objectives of the Perkukuh Pelaburan Rakyat (“PERKUKUH”) initiative outlined by the Government, Dana Impak is intended to catalyse new growth areas, build Malaysia’s economic competitiveness and increase national resilience whilst driving priority socio-economic outcomes.
Following the placement, Khazanah remains the single largest shareholder of CIMB at 25.6%. The shares were placed to a good mix of government linked funds, domestic and foreign long-only institutional investors, existing holders and multi-strategy funds.
CIMB and Credit Suisse were joint book runners for the share placement exercise.
