KUALA LUMPUR, July 20 (Reuters) - State-owned investment firm Khazanah Nasional Bhd is looking to sell a block of shares in Malaysia’s CIMB Group Holdings Bhd for 571 million-581 million ringgit ($133.22-135.56 million), IFR reported citing a term sheet.
The shares up for sale have been priced at 6.31–6.42 ringgit per share, IFR, a Thomson Reuters publication, reported. CIMB shares closed at 6.42 ringgit on Wednesday.
Around 90.5 million shares or 1 percent of the share capital are being sold in the block. There is an undisclosed upsize option depending upon the response to the offer.
There is a 60-day lock up on Khazanah, which owns 29.1 percent of CIMB, the second largest bank by assets in Malaysia.
Khazanah declined to comment and CIMB did not respond to a request for comment.
CIMB and JP Morgan are the joint bookrunners for the deal, IFR reported.
$1 = 4.2860 ringgit Reporting by S Anuradha of IFR, writing by Liz Lee; Editing by Himani Sarkar