Malaysia's Ekuinas divests stake in mobile transaction gateway Tranglo to TNG for $27.6m

Image taken from Ekuinas website.

Malaysian state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) has exited its investment in Tranglo Sdn Bhd (Tranglo), a cross-border mobile transaction gateway company, by selling its 60 per cent stake to Hong Kong-based financial services firm TNG.

In a statement, Ekuinas said it has divested its entire equity interest in Tranglo to TNG for MYR114.9 million ($27.6 million), marking the state-owned PE firm’s ninth exit so far, generating proceeds of more than MYR2 billion ($480 million).

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