BUY, FV rm8.15

BUY call on Tenaga Nasional (Tenaga), with an unchanged DCF-derived fair value of RM8.15/share, which implies an FY13F PE of 11x and a P/BV of 1.3x.

http://www.amesecurities.com.my/gc/downloa...al%20130225.pdf

Khazanah selling Tenaga stake worth up to RM418.5m

State investor Khazanah Nasional Bhd is selling 50 million shares worth up to RM418.5 million in Malaysia’s largest power utility Tenaga Nasional Bhd, two banking sources said.

The shares are being priced at between RM8.12 and RM8.37, said the sources who have direct knowledge of the deal, which is equivalent to a discount of about three percent to the closing price of Tenaga’s shares today.

The sale will reduce Khazanah’s stake in the power company to 32.56 per cent from 33.46 per cent currently, according to Thomson Reuters data.

CIMB Group Holdings Bhd and Deutsche Bank are the joint bookrunners on the sale, the sources said. – Reuters


Selling Stake in Tenaga to "cover" recently concluded election expenses

This post has been edited by davinz18: Jun 3 2013, 06:35 PM

Today (23/9/13) closed at RM9.05, up 1c

Tenaga Nasional declares final dividend of 15 sen/share