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Tenaga climbs, plans RM3.7b Sukuk

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Tenaga climbs, plans RM3.7b Sukuk Empty Tenaga climbs, plans RM3.7b Sukuk

Post by Cals Thu 12 Dec 2013, 07:56

Published: Wednesday December 11, 2013 MYT 2:03:00 PM 
Updated: Wednesday December 11, 2013 MYT 2:04:36 PM
Tenaga climbs, plans RM3.7b Sukuk

KUALA LUMPUR: Shares of Tenaga Nasional Bhd rose to a high of RM11.16 in Wednesday’s morning trade as sentiment perked up in the power giant which plans to undertake a RM3.7bil (US$1.2bil) Sukuk.

At midday, it was up six sen to RM11.08. There were 4.05 million shares done at prices ranging from RM11 to RM11.16.

Bloomberg reported Tenaga plans to sell as much as RM3.7bil of Sukuk to part finance its construction of a power plant.

The wire report also said Tenaga had hired BNP Paribas and CIMB Groupr to manage the offering.

Tenaga’s share price had rallied recently ahead of a 14.89% power tariff hike by Jan 1, 2014.
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