July 20, 2017 / 3:02 AM / a year ago

Malaysia's Khazanah looks to sell CIMB shares for up to $136 mln

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

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