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Pension Deal
Link: http://lankabusinesstoday.com/stock-market/deals/1452-pension-deal
FRIDAY, 16 MARCH 2012 09:49 WRITTEN BY BUSINESS EDITOR 0 COMMENTS
EPF sells its JKH stake to Malaysia's Khazana Fund
Mar 16, 2012 (LBT) - Sri Lanka's largest stock market investment fund Employees Provident Fund started to shed its 8.3% stake or the 69,945,530 ordinary shares of island's largest listed conglomerate John Keells Holdings (JKH) in a deal worth over Rs.15 billion.
Market indices shot up with Colombo Stock Market's turnover boosting over Rs.5 billion, initially when 23 million shares changed at Rs.194 per share.
The buyer was believed to be Malaysia's Khazana Nasional Fund and sources close to the deal said that a representative from Merryl Lynch (Khazana Nasional's stock broker) was in town to execute the deal.
Khazanah Nasional Berhad is the investment holding arm of the Government of Malaysia entrusted to hold and manage the commercial assets of the government and to undertake strategic investments. Khazanah was incorporated under the Companies Act 1965 on 3 September 1993 as a public limited company. The share capital of Khazanah is owned by the Minister of Finance, a body corporate incorporated pursuant to the Minister of Finance (Incorporation) Act, 1957. Khazanah has a nine member board comprising representatives from the public and private sectors. Najib Tun Razak, the current Prime Minister of Malaysia is the Chairman of the Board of Directors. Khazanah has stakes in more than 50 companies with assets valued in excess of RM (Malaysian Ringgit) 113 billion.
Link: http://lankabusinesstoday.com/stock-market/deals/1452-pension-deal
FRIDAY, 16 MARCH 2012 09:49 WRITTEN BY BUSINESS EDITOR 0 COMMENTS
EPF sells its JKH stake to Malaysia's Khazana Fund
Mar 16, 2012 (LBT) - Sri Lanka's largest stock market investment fund Employees Provident Fund started to shed its 8.3% stake or the 69,945,530 ordinary shares of island's largest listed conglomerate John Keells Holdings (JKH) in a deal worth over Rs.15 billion.
Market indices shot up with Colombo Stock Market's turnover boosting over Rs.5 billion, initially when 23 million shares changed at Rs.194 per share.
The buyer was believed to be Malaysia's Khazana Nasional Fund and sources close to the deal said that a representative from Merryl Lynch (Khazana Nasional's stock broker) was in town to execute the deal.
Khazanah Nasional Berhad is the investment holding arm of the Government of Malaysia entrusted to hold and manage the commercial assets of the government and to undertake strategic investments. Khazanah was incorporated under the Companies Act 1965 on 3 September 1993 as a public limited company. The share capital of Khazanah is owned by the Minister of Finance, a body corporate incorporated pursuant to the Minister of Finance (Incorporation) Act, 1957. Khazanah has a nine member board comprising representatives from the public and private sectors. Najib Tun Razak, the current Prime Minister of Malaysia is the Chairman of the Board of Directors. Khazanah has stakes in more than 50 companies with assets valued in excess of RM (Malaysian Ringgit) 113 billion.
