KUALA LUMPUR – The Federal Land Development Authority (Felda) has bought 9.97 million more shares in FGV Holdings Bhd from the open market at RM12.96 million.
In a filing with Bursa Malaysia today, FGV said the shares were purchased yesterday at RM1.30 apiece.
This raises the number of FGV shares acquired by Felda this week to 75.97 million. The agency earlier bought 66 million shares at RM1.30 each, for a total of RM85.8 million.
Last week, Felda announced in two filings that it bought 27.15 million FGV shares from the open market at RM1.29 each, totalling RM35.02 million.
This came after the agency issued an offer document on January 12 in relation to its unconditional mandatory takeover offer for all the remaining shares in FGV that it does not yet 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.
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 22, 2021
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