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
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
($1 = 3.0990 Malaysian ringgit)
(Reporting By Yantoultra Ngui; Editing By Miral Fahmy)