Felda secures 94.97% of FGV shares, triggers delisting from Bursa Malaysia
The total stake acquired by Felda and parties acting in concert (PACs) amounts to 3.46 billion shares, surpassing the 90% threshold required to trigger delisting.
The takeover, launched on May 26 2025, offered RM1.30 per share, the same price as Felda's previous 2020 bid.
This is below the independent valuation range of RM1.83 to RM1.99 per share.
Felda Asset Holdings Company Sdn Bhd, a Felda subsidiary, led the offer with support from the Pahang state government, Felda management via Koperasi Kakitangan Felda Malaysia Bhd (Felkop), and individuals including Sulong Jamil Mohamed Shariff and his spouse Salina Samsudin.
Following the closing, Bursa Malaysia will suspend trading five market days later, after which FGV will be formally delisted.
Shareholders who did not participate in the offer can require Felda to acquire their shares under the same terms, with at least three months to exercise this right.
FGV's listing in 2012 raised RM10.5 billion, one of the year's largest global IPOs.
However, the company struggled in later years due to underperforming acquisitions and low public shareholding, which fell below 25% in 2021.
With Felda now in full control, the authority plans to restructure FGV and prioritise the interests of its settlers, marking a new chapter for the plantation group. –TMR
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Felda secures 94.97% of FGV shares, triggers delisting from Bursa Malaysia
FGV Holdings Bhd is set to exit Bursa Malaysia after the Federal Land Development Authority (Felda) successfully acquired nearly 95% of the company's shares through its voluntary privatisation offer, which closed today. The total stake acquired by Felda and parties acting in concert (PACs) amounts to 3.46 billion shares, surpassing the 90% threshold required to trigger delisting. The takeover, launched on May 26 2025, offered RM1.30 per share, the same price as Felda's previous 2020 bid. This is below the independent valuation range of RM1.83 to RM1.99 per share. Felda Asset Holdings Company Sdn Bhd, a Felda subsidiary, led the offer with support from the Pahang state government, Felda management via Koperasi Kakitangan Felda Malaysia Bhd (Felkop), and individuals including Sulong Jamil Mohamed Shariff and his spouse Salina Samsudin. Following the closing, Bursa Malaysia will suspend trading five market days later, after which FGV will be formally delisted. Shareholders who did not participate in the offer can require Felda to acquire their shares under the same terms, with at least three months to exercise this right. FGV's listing in 2012 raised RM10.5 billion, one of the year's largest global IPOs. However, the company struggled in later years due to underperforming acquisitions and low public shareholding, which fell below 25% in 2021. With Felda now in full control, the authority plans to restructure FGV and prioritise the interests of its settlers, marking a new chapter for the plantation group. –TMR
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