KUALA LUMPUR: Institutional investors namely Employees Provident Fund (EPF) and Permodalan Nasional Bhd (PNB) have taken up CIMB Group’s stake previously held by Japan’s Mitsubishi UFJ Financial Group (MUFG).
"Institutional investors both local, including EPF and PNB, as well as overseas had taken up MUFG's stake," said CIMB chief executive officer (CEO) and executive director Tengku Datuk Seri Zafrul Abdul Aziz to reporters at the Khazanah Megatrends Forum 2017 (KMF17).
The Japanese financial group had just last month sold its entire CIMB stake amounting to 412.5 million shares at RM6.15 to RM6.30 apiece.
This represented the largest block trade in Malaysia to date.
MUFG had said it was part of the group's strategic global master plan which included a review of its portfolio of existing investment in affiliates.
It added that both MUFG and CIMB would maintain their current collaboration founded on a mutually beneficial 40-year partnership.
Tengku Zafrul is set to take the stage later this afternoon as one of the panelists for ‘Core Session 2: Firms and Transformation’ entitled 'A World Awash with Data: What is the Role of the Algorithm in Enhancing Performance?’ at KMF17.
He will be joined by PNB president and group CEO Datuk Abdul Rahman Ahmad and Datuk Hisham Hamdan, executive director of investments and head of research and investment strategy of Khazanah Nasional Bhd, to name a few.