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

       It said the placement price represented a 3.4% discount to the closing market price of RM5.28 on April 13, 2022.

       “The share placement exercise is part of Khazanah’s ongoing efforts to rebalance its portfolio and recycle its investments into new assets in Malaysia and globally, including new investments under Dana Impak,” the sovereign wealth fund said in a statement.

       Following the placement, Khazanah remains the single largest shareholder of CIMB at 24.7%. — Bernama