KUALA LUMPUR – The Federal Land Development Authority (Felda) has bought another 15 million shares in FGV Holdings Bhd from the open market, for RM19.5 million.
In a filing with Bursa Malaysia today, FGV said the shares were purchased yesterday at RM1.30 per unit.
This raises the number of FGV shares acquired by Felda this week to 66 million.
On Monday and Tuesday, the agency bought 51 million shares via the open market at RM1.30 each, for a total of RM66.3 million.
Last week, it announced in two filings that it bought a total of 27.15 million shares for RM1.29 apiece, for a total of RM35.02 million.
The agency on January 12 issued its offer document in relation to its unconditional mandatory takeover offer for all the remaining shares in FGV that it has yet to 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 a 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 21, 2021
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