MAHB share price falls on Indian unit stake disposal
05 Feb 2018 / 11:32 H.
PETALING JAYA: Malaysia Airports Holdings Bhd's (MAHB) share price fell 20 sen or 2.18% this morning, following its plans to sell its entire stake in GMR Hyderabad International Airport Ltd (GHIAL) to India's GMR Airports Ltd for RM295.34 million.
At 10.47am, the stock stood at RM8.98 with 198,200 shares changing hands. MAHB has a market capitalisation of RM14.9 billion.
MAHB said the proposed disposal provides an opportunity for the group to unlock its investment in GHIAL at an attractive value.
It will use the proceeds for general corporate purposes and expenses in relation to the exercise.