KUALA LUMPUR, June 3 State investor Khazanah Nasional Bhd is selling 50 million shares worth up to 418.5 million ringgit ($135.04 million) in Malaysia's largest power utility Tenaga Nasional Bhd, two banking sources said.
The shares are being priced at between 8.12 and 8.37 ringgit, said the sources who have direct knowledge of the deal, which is equivalent to a discount of about three percent to the closing price of Tenaga's shares on Monday.
The sale will reduce Khazanah's stake in the power company to 32.56 percent from 33.46 percent currently, according to Thomson Reuters data.
Officials at Tenaga and Khazanah were not immediately available for comment.
CIMB Group Holdings Bhd and Deutsche Bank are the joint bookrunners on the sale, the sources said. ($1 = 3.0990 Malaysian ringgit) (Reporting By Yantoultra Ngui; Editing By Miral Fahmy)