KUALA LUMPUR – The Federal Land Development Authority (Felda) bought 22 million shares of FGV Holdings Bhd in the open market for RM28.38 million yesterday.
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 at RM1.29 a piece.
On Tuesday, Felda issued an offer document in relation to its unconditional mandatory take-over offer for all remaining shares in FGV which it does not own, except treasury shares.
Its offer of RM1.30 per share will be open for acceptance until 5pm on February 2, unless extended or revised, with an announcement to be made by Maybank IB two days prior to the closing date.
On December 8, Felda, which already has a 21.24% stake in FGV, increased its stake in the company to 35.12%, and proposed to take FGV private at RM1.30 a share.
The 13.88% stake was bought from the Retirement Fund (Incorporated) (6.1%) and Urusharta Jamaah Sdn Bhd (7.78%).
FGV shares slipped 0.01 sen to RM1.28 at midday today. – Bernama, January 14, 2021
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