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Felda buys another 3.16 mil FGV shares

Purchase from open market made at RM1.30 per unit

Updated 5 years ago · Published on 10 Feb 2021 5:00PM

Felda buys another 3.16 mil FGV shares
As of January 29, Felda and persons acting in concert with it held a 68.76% stake in FGV. – The Vibes file pic, February 10, 2021

KUALA LUMPUR – The Federal Land Development Authority (Felda) has acquired another 3.16 million shares in FGV Holdings Bhd from the open market at RM1.30 per unit.

In a filing with Bursa Malaysia today, Maybank Investment Bank Bhd, the principal adviser to Felda on its takeover offer for FGV shares, said the purchase took place yesterday.

On December 8, the government agency proposed a takeover after acquiring 222.48 million FGV shares (6.1% stake) held by Retirement Fund Inc, and 283.71 million shares (7.78% stake) held by Urusharta Jamaah Sdn Bhd, for RM658 million in cash.

As of January 29, Felda and persons acting in concert with it held a 68.76% stake in FGV. – Bernama, February 10, 2021

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