World's largest sovereign wealth fund holds stake in Northern Solar
KUALA LUMPUR: The world's largest sovereign wealth fund holds a stake in ACE Market-listed Northern Solar Holdings Bhd, whose shares crossed RM1 for the first time on Wednesday after extending a blistering three-day run.
The world's largest sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), holds a 2.53% stake in Northern Solar Holdings Bhd, with 10 million shares. NBIM is the investment arm of Norway's central bank and manages the country's Government Pension Fund Global, also known as Statens pensjonsfond utland. Another Norwegian investor, Statens pensjonsfond utland, holds 9.97 million shares, or 2.52% of Northern Solar.
The two entries amount to about 5.05% of the company. Northern Solar's IPO included an offer for sale of 25.71 million shares to selected investors, which NBIM could have participated in or acquired after its listing on February 6, 2025. Northern Solar's two largest shareholders are the managing director and executive director, each holding 29.26%.
The company's shares surged 8.51% to RM1.02, valuing the firm at RM403.51 million. Northern Solar is engaged in the EPCC of solar photovoltaic systems and renewable energy generation.
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