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Westports dips on news of Khazanah's divestment

Sovereign wealth fund sells all of its 4.74% stake in Malaysian port operator; shares down 0.6% to RM2.98

Published Mon, Nov 3, 2014 · 09:50 PM
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Kuala Lumpur

SHARES of Westports Holdings declined 0.6 per cent on Monday to RM2.98 apiece on news over the weekend that sovereign wealth fund Khazanah Nasional had completely divested its 4.74 per cent interest in the Malaysian port operator.

The news of the divestment wasn't really a surprise, however, as Khazanah had indicated much earlier that it intended to sell its non-strategic assets. It had invested in Westports in the early 2000s but the port operator only went public last year at an offer price of RM2.50.

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