Felda acquires 1.65 million more FGV shares from open market

The Felda Global Ventures logo is pictured at its headquarters in Kuala Lumpur October 9, 2019. — Picture by Choo Choy May
The Felda Global Ventures logo is pictured at its headquarters in Kuala Lumpur October 9, 2019. — Picture by Choo Choy May

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KUALA LUMPUR, Feb 5 — The Federal Land Development Authority (Felda) has acquired another 1.65 million shares in FGV Holdings Bhd from the open market at RM1.30 per share.

In a statement today, Maybank Investment Bank Bhd (Maybank IB), the principal adviser to Felda on its takeover offer for FGV shares, said the shares were purchased yesterday, February 4.

On December 8, Felda proposed to launch a takeover offer after acquiring 222.48 million FGV shares (6.1 per cent stake) held by Kumpulan Wang Persaraan (Diperbadankan), and 283.71 million FGV shares (7.78 per cent stake) held by Urusharta Jamaah Sdn Bhd for RM658 million cash.

As at January 29, 2021, Felda and persons acting in concert with it held 68.76 per cent stake in FGV.

Maybank IB recently notified that the closing time and date for the shareholders to accept the unconditional mandatory takeover offer has been extended to February 16, 2021 at 5pm. — Bernama

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