The placement would reduce the Malaysian sovereign wealth fund’s holding in the state utility, marking a sizable secondary share sale if confirmed.
Khazanah Nasional reportedly offloaded roughly $340 million in Tenaga Nasional shares through a placement, a transaction that would trim the Malaysian sovereign wealth fund’s stake in the state utility. Placements are commonly used to sell large blocks of stock to investors more quickly than open-market sales, often helping major shareholders reduce holdings without prolonged market overhang.