KUALA LUMPUR: Bursa Malaysia has approved FGV Holdings Bhd
's request to suspend trading in its shares on Monday, pending a material announcement.
While the reason for the all-day trading suspension remains unknown, it comes amid media reports that the company's largest shareholder, the Federal Land Development Authority (Felda), had renewed talks to take the company private.
On May 6, FGV said in response to a media report that it has not received any formal notice from Felda regarding a potential takeover offer or any corporate action that would lead to the group’s privatisation or delisting from Bursa Malaysia.
“It is important to note that any privatisation initiative is FGV’s shareholders’ matter and not to be dealt at FGV’s level until an official notification in respect of such an exercise be communicated to FGV,” it said in a filing with Bursa Malaysia.
At last Friday's close, FGV shares were last traded at RM1.28 each, two sen lower from their previous reference price.
