Felda acquires remaining 461,500 FGV shares from open market

The FGV logo is pictured at its headquarters in Kuala Lumpur October 9, 2019. — Picture by Choo Choy May

KUALA LUMPUR, Feb 3 — The Federal Land Development Authority (Felda) has acquired all the remaining 461,500 shares of FGV Holdings Bhd (excluding treasury shares) in the open market for RM1.30 per offer share.

In a statement today, Maybank Investment Bank Bhd (Maybank IB), the principal adviser to Felda on its takeover offer for FGV shares, said the shares were purchased on Tuesday.

Maybank IB said the acquisition also included all FGV shares under its long-term incentive plan.

On Dec 8, Felda, which already had a 21.24 per cent stake in FGV, increased its stake in the company to 35.12 per cent and proposed to take FGV private at RM1.30 a share. — Bernama

Source: Malay Mail