By Ying Xian Wong
Cahya Mata Sarawak shares jumped after Norway’s sovereign wealth fund became a substantial shareholder.
Shares in the Malaysia-listed conglomerate rose as much as 6.5% and were recently 5.6% higher at 1.13 ringgit ($0.24), taking 12-month gains to 26%.
Cahya Mata Sarawak said late Friday that Norges Bank, the central bank and sovereign wealth fund manager of Norway, acquired a 5.03% stake in the company.
According to Cahya Mata Sarawak’s bourse filing, Norges Bank acquired shares on Sept. 8, but didn’t provide the purchase price.
Norges Bank Investment Management is the largest single owner in the world’s stock markets and owns on average around 1.5% of all listed companies, according to its website.
Write to Ying Xian Wong at [email protected]
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