Tenaga sees RM2.5b erased from market cap

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KUALA LUMPUR: Tenaga Nasional Bhd's share price saw RM2.50bil erased from its market capitalisation after its shares slumped to the lowest in March 2016.

's share price saw RM2.50bil erased from its market capitalisation after its shares slumped to the lowest in March 2016.The KLCI fell 11.35 points or 0.69% to 1,628.11. Trading volume was 2.42 billion shares valued at RM1.1bil.Khazanah Nasional is the largest shareholder in the power giant at 28.76% or 1.635 billion shares followed by the Employees Provident Fund with 14.05%. Skim Amanah Saham Bumiputera owns 9.10% and KWAP 5.45%.

Vanguard Group Inc disposed of 6.239 million shares on February 28 and reduced its shareholdeing to 2.48% or 149.985 million units. Macquaries Research has an Outperform with a target price (TP0 of RM15.80, AmInvestment Research a Hold and TP of RM13.50.

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