CIMB and Deutsche Bank complete placement of 50m existing shares in Tenaga

That's 0.9% of its paid up share capital.

According to a release, CIMB and Deutsche Bank, as joint placement agents, have today successfully completed a placement of 50 million existing shares in Tenaga Nasional Berhad, representing approximately 0.9% of its paid up share capital, at RM8.24 per share, raising gross proceeds of RM412 million for Khazanah Nasional Berhad. The placement price represents a 1.6% discount to the closing market price on 3 June 2013.

In the last twelve months, Tenaga’s share price has gained approximately 30.4%, outperforming the benchmark FBM KLCI Index which is up 13.6%. There was strong demand from both domestic and foreign institutional investors for the placement. With the placement, Khazanah's stake in Tenaga is marginally reduced to 32.6% from 33.5%”