June 4, 2013 / 4:32 AM / in 5 years

Malaysia's Khazanah sells Tenaga stake for $133 mln-sources

KUALA LUMPUR, June 4 (Reuters) - State investor Khazanah Nasional Bhd has sold 50 million shares worth 412 million ringgit ($132.95 million) in Malaysia’s largest power utility Tenaga Nasional Bhd, banking sources said on Tuesday.

The sale reduces Khazanah’s stake in the power company to 32.56 percent from 33.46 percent currently, according to Thomson Reuters data. Khazanah sold a similar stake in Tenaga in December.

Officials at Tenaga and Khazanah were not immediately available for comment.

The sources, who have direct knowledge of the sale, said the shares were priced at 8.24 ringgit each, equivalent to a discount of 1.6 percent to the closing price of Tenaga’s shares on Monday.

The shares were offered within a range of between 8.12 and 8.37 ringgit. CIMB Group Holdings Bhd and Deutsche Bank were the joint bookrunners on the sale, the sources said.

$1 = 3.0990 Malaysian ringgit Reporting By Yantoultra Ngui in KUALA LUMPUR and Elzio Barreto in HONG KONG; Editing By Miral Fahmy

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