Malaysia’s sovereign fund Khazanah Nasional Bhd has exited its investment in semiconductor testing firm Aemulus Holdings Bhd.
Khazanah on Friday disposed of its remaining 29.3 million shares or 5.3 per cent stake in Aemulus, a regulatory filing with Bursa Malaysia showed. Pricing details and the identity of the buyer of the shares, however, were not disclosed.
The disposal came after Khazanah disposed of 1.62 million shares and 2.28 million shares in Aemulus on July 22 and 23, respectively.
Earlier regulatory filings showed Khazanah has been trimming its stake in Aemulus since December last year.
Khazanah first acquired a 15 per cent stake in ACE Market-listed Aemulus in September 2015, via Bombalai Hill Ventures, according to earlier media reports. Bombalai Hill had subscribed to some 65.83 million shares or 15 per cent via private placement then.
Founded in 2004, Aemulus designs and develops automated test equipment and test and measuring instruments for the semiconductor industry. In 2015, Aemulus was publicly listed on the ACE Market of Bursa Malaysia.
Khazanah Nasional has been restructuring its debt-heavy portfolio since last year. Khazanah announced a new strategy to restructure its portfolio into commercial and strategic holdings. The sovereign fund also trimmed stakes in some of its invested firms to improve returns.
In May, Khazanah ceased to be a substantial shareholder in ACE market-listed genetics screening company Malaysian Genomics Resource Centre Bhd (MGRC). The development came after Khazanah sold 12 million shares or 11.59 per cent stake through its indirect subsidiary Synamatix Sdn Bhd.