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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Felda , FGV , takeover

   

Did you find this article insightful?

Yes
No

Next In Business News

UEM Edgenta to save RM100mil in shift towards healthcare tech solutions
AmInvest Research lowers end-2021 KLCI target to 1,695
UOB Kay Hian Research keeps buy call on Top Glove, lower TP RM7.60
AMMB posts net profit of RM262.8m in 3Q, RM1.09b in 9M
John Holland Gamuda JV shortlisted for airport metro
Lim Hock San appointed executive chairman of LBS Bina Group
KAB resolves dispute with ICEE International
KLCI back in the red, gloves extend declines
Invest Energy plans RM2.2b investment with European ESG fund
Malaysia's manufacturing PMI falls in February

Stories You'll Enjoy


Vouchers