KUALA LUMPUR – Petronas has pared down its shareholdings in MISC Bhd and KLCCP Stapled Group on Bursa Malaysia Securities yesterday via an equity-accelerated book-building exercise.
In a statement today, the company said the pare-down was carried out as part of its continued portfolio optimisation efforts to ensure a robust and sustainable portfolio, ready to capture new step-out business opportunities.
“These sales of shares will result in greater local and international investor participation and ownership in these companies, in addition to increased stock liquidity,” it said.
Petronas added that the company will continue to retain controlling stakes in MISC and KLCC SG, which remain to be key solution providers to Petronas.
After the disposal, Petronas will still remain as the controlling shareholder of MISC with a roughly 51.6% stake against 57.56% previously.
As at 10.50am, MISC up five sen to RM6.86 with 311,200 shares traded with market capitalisation of RM30.44 billion, while KLCCP down one sen to RM7.49 with 240,800 shares traded with market capitalisation of RM13.63 billion. – Bernama, December 11, 2020
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