Khazanah raises $168.6m by selling Telekom Malaysia shares at discount

Malaysian sovereign wealth fund Khazanah Nasional Bhd on Friday said it divested 172.3 million shares in telco player Telekom Malaysia Bhd (TM), raising gross proceeds of 735.7 million ringgit ($168.6 million).

The placement price of 4.27 ringgit per share represents a 3.61 per cent discount to TM’s closing price of 4.43 ringgit on Thursday, the fund said in a statement.