KUALA LUMPUR (Sept 6): Khazanah Nasional Bhd had disposed of a 1.05% stake in CIMB Group Holdings Bhd, and 1.83% in Tenaga Nasional Bhd (TNB) since March this year, valued at more than RM1.5 billion.

The sovereign wealth fund disposed of RM444.27 million worth of shares in CIMB and TNB in the two days of Sept 4 and 5 alone.

According to a bourse filing on Wednesday, Khazanah offloaded 62 million shares or a 0.58% stake in CIMB on Tuesday (Sept 5), paring its stake in the bank to 23.01% or 2.45 billion shares.

A check with Bloomberg showed that the sale was done in seven blocks of shares, each priced at RM5.85 per share, totalling RM346.27 million. Based on Tuesday’s closing price of RM5.65, the fund sold the shares at a 1.15% discount.

A day prior, it sold 10 million shares or a 0.17% stake in TNB at RM9.80 apiece or a cumulative RM98 million, according to Bloomberg. The price was a 1.01% discount to Monday’s closing price of RM9.90.

Post-disposal, the fund's shareholding in the national utility company fell to 1.36 billion shares or a 23.49% stake.

Prior to that on July 5, the fund sold 50 million shares or a 0.47% stake in CIMB. Based on the day's closing price of RM5.18, the shares were valued at RM259 million.

As for TNB, it disposed of a total of 95.81 million shares or a 1.66% stake in the company between March and June. Based on respective closing prices, the shares were valued at RM868.69 million.

Besides Khazanah’s shareholding changes in CIMB and TNB, the fund acquired 3.56 million shares or a 0.21% stake in Malaysia Airports Holdings Bhd (MAHB) in May — raising its stake in the airports operator to 33.24% or 554.59 million shares.

Taking cues from closing prices of the days the respective acquisitions were executed, the 0.21% stake in MAHB was worth around RM25.8 million.

As for the other listed companies on Khazanah’s portfolio, the fund’s shareholding in the companies has seen no changes so far in 2023.

Khazanah Nasional owns a 36.73% stake in Axiata Group Bhd, 20.18% in Telekom Malaysia Bhd, 20.65% in Astro Malaysia Holdings Bhd, 39.39% in Time dotCom Bhd, 11.71% in Farm Fresh Bhd, 25.94% in IHH Healthcare Bhd, as well as 69.14% in UEM Edgenta Bhd and 69.56% in UEM Sunrise Bhd via UEM Group Bhd.

Shares in CIMB closed seven sen or 1.24% higher at RM5.72 on Wednesday, giving the bank a market capitalisation of RM61 billion. TNB ended five sen or 0.5% higher at RM9.96, valuing the utility company at RM57.64 billion.

Meanwhile, MAHB shares settled three sen or 0.39% lower at RM7.60, giving the airport operator a market capitalisation of RM12.68 billion.