KUALA LUMPUR: Khazanah Nasional Bhd has completed a placement of 105 million shares or 1% equity in CIMB Group Holdings Bhd at RM5.10 a share, raising gross proceeds of RM535.5mil.

       In a statement, it said the placement price was a 3.4% discount to the closing market price of RM5.28 on April 13, 2022.

       It added that the shares were placed out to government-linked funds, both domestic and global long-only account and multi-strategy funds.

       "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 Khazanah’s new long-term strategy in advancing Malaysia’s economy and society under Advancing Malaysia, Dana Impak is intended to catalyse new growth areas, build Malaysia’s economic competitiveness and increase national resilience whilst driving socio-economic outcomes," it said.

       Following the placement, Khananah remains the single largest shareholder in CIMB with 24.7% stake.

       CIMB and Credit Suisse were joint book runners for the share placement exercise.