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Malaysia's Khazanah raises US$ 160 million from CIMB Group share placement

KUALA LUMPUR : Malaysian sovereign wealth fund Khazanah Nasional said on Friday it had completed a placement of a 1.4per cent equity stake in CIMB Group Holdings Bhd, raising gross proceeds of 664.5 million ringgit (US$160.24 million).

The share placement is part of Khazanah's on-going efforts to rebalance its portfolio and recycle its investments into new assets in Malaysia and globally, it said in a statement.

(US$1 = 4.1470 ringgit)

(Reporting by Liz Lee; Editing by Ed Davies)

Source: Reuters

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