[051114.EN.SEA] Khazanah Nasional Unit Lankayan Ventures Sells Stake in Westports Holdings

LANKAYAN Ventures has sold its stake in Malaysia-listed container terminal operator Westports Holdings, reports Seashipnews of Singapore and Dalian.

The subsidiary of Khazanah Nasional has sold its stake in Westports when some 161.5 million shares were offered in the sale.

The shares were priced at between MYR2.90 (US$0.87) and MYR2.92 per share, which represents a 2.7 per cent to 3.3 per cent discount on the closing price the day before.

Khazanah has owned 4.7 per cent of Westports since its IPO in October 2013 when Westports raised US$624 million at that time of Malaysia's biggest flotation.

Westports Holdings handles containers and conventional cargo out of Port Klang, Malaysia. Westports' container market share at Port Klang has grown from 73 per cent in 2013 to 78 per cent this year.

The operator expects container throughput of eight million TEU this year, up from 7.5 million TEU last year.

Source : HKSG.