Asian equity markets remained under pressure yesterday, adding to the woes of investors who have been losing money on many of the recent deals. But, as shown by a small block trade last night, when the right transaction comes along they are still eager to put their money to work.
In this case, the right transaction turned out to be a M$412 million $130 million sell-down in Tenaga Nasional by state-owned Malaysian investment company Khazanah Nasional. It is the second time in six months that Khazanah monetises a small portion of its holdings in the country’s leading power company after a similarly-sized block trade in December last year.
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