Settlers' cost of FGV shares halved, windfall for 77,934 investors

As part of a package of incentives amounting close to RM1.6bil, some 77,934 Felda settlers, who are still paying for loans taken to subscribe for FGV shares during the listing exercise in 2012, will see their amounts outstanding being reduced significantly in a scheme whereby Felda matches their liabilities ringgit-for-ringgit, said an official close to the details.

PETALING JAYA: Settlers’ cost of Felda Global Ventures Holdings Bhd (FGV) shares will be reduced by half following the latest set of measures announced by the Federal Land Development Authority (Felda).

As part of a package of incentives amounting close to RM1.6bil, some 77,934 Felda settlers, who are still paying for loans taken to subscribe for FGV shares during the listing exercise in 2012, will see their amounts outstanding being reduced significantly in a scheme whereby Felda matches their liabilities ringgit-for-ringgit, said an official close to the details.