Petroliam Nasional Bhd (Petronas) confirmed today the Malaysian national oil company yesterday successfully pared down its shareholdings in MISC Bhd and KLCCP Stapled Group via an equity-accelerated book-building exercise to ensure a robust and sustainable portfolio.
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KUALA LUMPUR (Dec 10): Petroliam Nasional Bhd (Petronas) is parting with shares in the listed companies in which it holds controlling stakes again.
This time round, the national oil firm is disposing of a chunk of its holdings in shipping giant MISC Bhd and KLCCP Stapled Group (KLCCSS), according to the term sheet on the share sales sighted by The Edge.
Petronas is looking to dispose of a total of 266 million shares, equivalent to a 5.96% stake in MISC at the offer price of RM6.67 per share, valuing the block of shares at RM1.77 billion.
After the share sales, Petronas will remain as the controlling shareholder with a roughly 51.6% stake against 57.56% previously.