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4-Traders Homepage  >  Equities  >  BURSA MALAYSIA  >  Tenaga Nasional Bhd    TENA   MYL5347OO009

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Tenaga Nasional Bhd : Malaysia's Khazanah Seeks to Raise Up to $294 Million via Share Sale of Tenaga Nasional

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09/08/2016 | 12:38pm CEST
   By Yantoultra Ngui 
 

KUALA LUMPUR, Malaysia--Malaysian sovereign-wealth fund Khazanah Nasional Bhd. is seeking to raise up to 1.19 billion ringgit ($294.0 million) by selling a portion of its stake in the country's largest electricity utility Tenaga Nasional Bhd. (5347.KU), according to a term sheet seen by The Wall Street Journal late Thursday.

The shares are priced at MYR14.30 to MYR14.56 each, according to the term sheet. Tenaga's shares closed flat at MYR14.56 Thursday, underperforming the local benchmark index's 0.1% rise.

Khazanah currently owns a 29.71% stake in Tenaga.

CIMB is the joint bookrunner of the deal, according to the term sheet.

Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

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Financials ( MYR)
Sales 2016 44 984 M
EBIT 2016 9 002 M
Net income 2016 7 386 M
Debt 2016 19 415 M
Yield 2016 2,53%
P/E ratio 2016 11,33
P/E ratio 2017 10,91
EV / Sales 2016 2,23x
EV / Sales 2017 2,16x
Capitalization 81 042 M
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Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 16,6  MYR
Spread / Average Target 16%
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Managers
NameTitle
Azman bin Mohammed President, CEO & Executive Director
Amar Leo Moggie Non-Independent Non-Executive Chairman
Fazlur Rahman bin Zainuddin CFO & Vice President-Group Finance
Fazil bin Ibrahim Chief Information Officer
Zainal Abidin bin Putih Senior Independent Non-Executive Director
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