Khazanah Nasional sold part of its stake in Malaysia Airports on Tuesday through a M$476 $112 million overnight block trade, as the state investment fund continues to divest its non-core equity interest in certain government-linked companies GLCs.
The transaction did not come as a surprise and underscores Khazanah's strategy of gradually reducing its stake in GLCs in order to fund investment in foreign companies and financially-struggling local companies like Malaysia Airlines. It's also a sign of the relative strength of Malaysia's ECM market, which has now beaten its full-year fund-raising total for 2016.
The Malaysia Airports block trade is the second of its kind...
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