KUALA LUMPUR – The Federal Land Development Authority (Felda) bought 41 million shares of FGV Holdings Bhd from the open market for RM53.3 million.
In a filing with Bursa Malaysia today, FGV said the shares were purchased at RM1.30 a piece yesterday.
On January 14, Felda bought 22 million FGV shares from the open market for RM28.38 million.
On January 12, Felda issued an offer document in relation to its unconditional mandatory takeover 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 acceptances until 5pm on February 2, unless extended or revised with an announcement to be made by Maybank Investment Bank Bhd – the principal adviser to Felda for the takeover offer – two days prior to the closing date.
On December 8 last year, Felda, which already owns 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 were flat at RM1.30 at noon today, with 5.97 million shares transacted. – Bernama, January 19, 2021
