KUALA LUMPUR – The Federal Land Development Authority (Felda) has bought another 10 million shares in FGV Holdings Bhd from the open market for RM13 million.
In a filing with Bursa Malaysia today, FGV said the shares were bought yesterday at RM1.30 per unit.
This raises the number of FGV shares acquired by Felda this week to 51 million.
On Monday, the agency bought 41 million shares via the open market for RM53.3 million, also for RM1.30 each.
Last week, Felda announced in two filings that it bought a total of 27.15 million FGV shares from the open market for RM1.29 apiece, for a total of RM35.02 million.
This came after the agency issued its offer document on Tuesday last week, in relation to its unconditional mandatory takeover offer for all remaining shares in FGV that it does not already own, except for treasury shares.
Its offer of RM1.30 per unit will be open for acceptance until 5pm on February 2, unless extended or revised.
On December 8 last year, Felda, which already owned 21.24% equity interest in FGV, increased its stake in the company to 35.12% and proposed to take it private at RM1.30 per share.
The additional 13.88% stake was bought from Retirement Fund Inc (6.1%) and Urusharta Jamaah Sdn Bhd (7.78%).
FGV shares were flat at RM1.30 at midday today, with 5.97 million units transacted. – Bernama, January 20, 2021
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