Felda buys 41m FGV shares for RM53.3m

The Federal Land and Development Authority (Felda) continued to raise its stake in FGV Holdings Bhd with the purchase of 41 million shares on Monday.

KUALA LUMPUR: The Federal Land Development Authority (Felda) bought 41 million FGV Holdings Bhd shares from the open market on Monday.

A filing with Bursa Malaysia showed Felda bought the shares of the plantation company for RM53.3mil or at the takeover offer price of RM1.30.

At midday, FGV was unchanged at RM1.30.

Last week, Felda issued an offer document in relation to its unconditional mandatory takeover offer for all of FGV shares which it does not own, except treasury shares.

The cash offer of RM1.30 per share would be opened for acceptances until 5pm on Feb 2,2021, unless extended or revised with an announcement to be made by Maybank Investment Bank Bhd (Maybank IB) two days prior to the closing date.

According to Felda, an independent advice circular would be issued latest by Jan 22,2021.

“Felda does not intend to maintain the listing status of FGV on the Main Market of Bursa Securities, ” it had stated.

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Felda , FGV , takeover


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