Shares of Tenaga Nasional Bhd (TNB) took a hit for the second day as investors reacted negatively to reports that the national utility company could be planning a massive fund-raising exercise to finance its purchase of a power plant project from 1Malaysia Development Bhd (1MDB).
Extending their losses for the second day, TNB’s shares fell 28 sen to close at RM12.78 yesterday. The decline wiped out RM1.8bil of its market capitalisation over the two-day period.
Reuters had reported on Tuesday that TNB was planning to launch what could be the largest sukuk globally this year by raising as much as RM10bil in Islamic bonds.
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Extending their losses for the second day, TNB’s shares fell 28 sen to close at RM12.78 yesterday. The decline wiped out RM1.8bil of its market capitalisation over the two-day period.
Reuters had reported on Tuesday that TNB was planning to launch what could be the largest sukuk globally this year by raising as much as RM10bil in Islamic bonds.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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