According to TNB’s filing with Bursa Malaysia yesterday, the amount of shares disposed of by Khazanah amounted to 54 million shares. This brought the latter’s ownership in TNB down to 22.56%.

The filing did not disclose the exact selling price of the transaction.

However, it was reported that the share disposal had generated RM530.28 million for Khazanah, equivalent to a selling price of RM9.82 per share.

Khazanah has now sold a cumulative 159.81 million shares, equivalent to a 2.76% stake, in TNB since the start of the year.

The sovereign wealth fund has also been reducing its holdings in other publicly traded companies in its portfolio in 2023, including CIMB Group Holdings Bhd and telecommunications group Time dotCom Bhd.

It has slashed its ownership in CIMB to 23.01% and in Time dotCom to 35.73% since March this year.

As at 4.21pm, TNB’s share price was down by 12 sen or 1.2% at RM9.86, giving the group a market capitalisation of RM57.01 billion.