May 22, 2020 / 1:28 AM / 10 days ago

Khazanah raises $169 mln through Telekom Malaysia share placement

KUALA LUMPUR, May 22 (Reuters) - Malaysian sovereign wealth fund Khazanah Nasional Bhd said on Friday it raised 735.7 million ringgit ($169.1 million) through a share placement in national telecoms firm Telekom Malaysia.

The fund said in a statement the Telekom placement is the third largest in the ASEAN region so far this year and is part of a restructuring of Khazanah’s overall portfolio, with the proceeds to be utilised for future new investments and the diversification of Khazanah’s asset allocation. ($1 = 4.3520 ringgit) (Reporting by Liz Lee; Editing by Muralikumar Anantharaman)

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