Malaysia’s state investor Khazanah Nasional Bhd placed out more than eight percent of Malaysia Airports Holdings Bhd on Wednesday, reducing its stake in the country’s dominant airport operator to almost 41 percent.
According to dealers, the exercise that lasted four hours after market closed at 5pm was broken into two blocks - with an initial block of 85 million shares followed by another 25 million shares.
“Khazanah usually places out shares in MAHB at this time of the year. For a few weeks now, the market has been anticipating the placement,” said a dealer.
Assuming all 110 million shares were sold, Khazanah would have ended up with about 616 million ringgit.
NOTE: Reuters has not verified this story and does not vouch for its accuracy.