Wednesday, July 21, 2010

Maybank IB, Nomura place out 5% of TM for Khazanah

KUALA LUMPUR: Maybank Investment Bank Bhd and Nomura Singapore Ltd placed out a 5% stake in TELEKOM MALAYSIA BHD [] on behalf of Khazanah Nasional Bhd.

Maybank IB said on Wednesday, July 21, they placed out the 178.87 million existing TM shares, raising RM581.3 million for Khazanah.

"There was strong demand from both domestic and foreign institutional investors for the placement," it said

The placement price was a 2.7% discount to the closing market price on July 20. Year-to-date TM's share price has gained about 9.2%, outperforming the FBM KLCI Index which is up 5.1%.

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