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Khazanah sold 90.52m CIMB shares for RM571m

KUALA LUMPUR: Khazanah Nasional Bhd sold 90.52 million shares of CIMB Group Holdings Bhd in an off-market deal at RM6.31 each on Thursday.

Stock market data showed the shares were disposed of at 11 sen below Wednesday's close of RM6.42. The block of shares was valued at RM571.18mil.

It was reported that the sovereign wealth fund had offered for sale the block at RM571mil to RM581mil (US$133mil to US$136mil) block in the RM6.31 to RM6.42 per share range. 

IFR reported the price represents up to a 1.7% discount to the pre-deal close.
It was also reported there was an undisclosed upsize option depending upon the response to the offer.  There is a 60-day lock-up on Khazanah, which owns 29.1% of CIMB. 

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