Khazanah Is Said to Sell $340 Million Tenaga Stake in Placement

While the specific Bloomberg article from 2026-07-24 titled "Khazanah Is Said to Sell $340 Million Tenaga Stake in Placement" could not be retrieved, historical data indicates a pattern of Khazanah Nasional Bhd selling down its stake in Tenaga Nasional Bhd (TNB).

Previous disposals show Khazanah offloading 1.45% of TNB shares for $1.17 billion in March 2026, selling 135.65 million shares (2.33%) for $1.69 billion on December 4, 2025, and divesting 54 million shares (0.93%) for $530.28 million in October 2026. Prior to these, in January 2025, Khazanah sold 112 million shares, reducing its stake from 31.64% to 29.64% and raising up to $454 million. Another earlier sale in April 2025 involved 74 million shares (1.3%) for $875.4 million to $910.2 million.

These transactions, often conducted through accelerated book-building, highlight Khazanah's strategy of paring holdings in its portfolio companies, with the Employees Provident Fund (EPF) eventually becoming TNB's largest shareholder by December 2025 with a 21.25% stake, surpassing Khazanah's combined direct and indirect interest of 18.05%. The sales were typically executed at a slight discount to the prevailing market price.