APA Group (ASX:APA) has been advised by its largest securityholder, Petronas Australia Pty Ltd (Petronas), that it has sold the 111.3 million securities it holds in APA, equivalent to 17.3% of APA’s issued capital, in an institutional bookbuild managed by Morgan Stanley.

APA has been advised this morning that the securities have been successfully placed with a broad spread of domestic and international institutional investors.

APA Managing Director Mick McCormack said "Petronas has been a strong supporter of APA’s business since listing, and we are grateful for their involvement over the last 12 years. Petronas has advised that its decision to sell follows a rationalisation of its investment portfolio."