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WHOLESALE BANKING | Staff Reporter, Malaysia

Here's CIMB and Deutsche Bank's latest share placement completion

A placement of 60 million existing shares in Tenaga Nasional has been completed.

According to a release, CIMB and Deutsche Bank, as joint placement agents, have today successfully completed a placement of 60 million existing shares in Tenaga Nasional Berhad, representing approximately 1.1% of its paid up share capital, at RM6.78 per share, raising gross proceeds of RM406.8 million for Khazanah Nasional Berhad. The placement price represents a 2.0% discount to the closing market price on 11 December 2012.

In the last twelve months, Tenaga’s share price has gained approximately 26.1%, outperforming the benchmark FBM KLCI Index which is up 12.4%. There was strong demand from both domestic and foreign institutional investors for the placement.

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