Khazanah Nasional Bhd has successfully completed a placement of 138.4 million shares in CIMB Group Holdings Bhd (CIMB Group) at RM4.80 per share, raising gross proceeds of RM664.5 million.

The placement price represents a 2.8 percent discount to the CIMB Group’s closing market price of RM4.94 on Sept 8, 2021.

“The move is part of Khazanah’s ongoing efforts to rebalance...