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Khazanah sells half of BDO Unibank shares

Khazanah sells 40 million BDO Unibank shares

Back in 2014,  Khazanah Nasional Bhd made its entry into Phillippines with the buying of BDO Unibank Inc’s stake, in the hopes that the entry will further strengthen BDO’s institutional shareholder base and affirms the attractiveness of the Philippines as an investment destination.

SM, owned by the Philippines’ richest man, Henry Sy, said in a statement on Tuesday the transaction involved its unit, Multi-Realty Development Corp, selling 2 percent of BDO’s total common shares to Pulau Kaca Investments Ltd, a Khazanah unit.

Source: Reuters

However, in a recent report by Berita Harian, Khazanah Nasional Bhd had decided to sell half of its shares, a total of 40 million at the price of 133 pesos (RM10) per unit, earning 5.32 billion pesos (RM415 million).

Khazanah Nasional Bhd (Khazanah) menjual 40 juta sahamnya dalam syarikat perbankan yang berpangkalan di Filipina, BDO Unibank Inc, pada harga 133 peso (RM10) sesaham.Sumber rapat yang dipetik Bloomberg berkata, sayap pelaburan kerajaan Malaysia itu akan memperoleh 5.32 bilion peso (RM415 juta) daripada penjualan sahamnya itu.

Source: Berita Harian

The report also stated that it is being sold at a lower market price, which is 5.4 percent lower. There is no response from Khazanah on this transaction.

Data Bloomberg juga menunjukkan transaksi itu bersamaan dengan 0.9 peratus saham BDO yang belum selesai.Khazanah bagaimanapun enggan menjawab persoalan mengenai perkara ini.

Source: Berita Harian

Based on Khazanah Report 2017, which was updated on 1st May 2018, the total BDO Unibank Inc shares owned by Khazanah was at 3.9 percent.

Source: Khazanah

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Credit/Source:
Reuters
Berita Harian
The Khazanah Report 2017

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