KUALA LUMPUR, Jan 14 — Felda Land Development Authority (Felda) bought 22 million shares of FGV Holdings Bhd in the open market for RM28.38 million yesterday.
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 at RM1.29 apiece.
On January 12, Felda issued an offer document in relation to its unconditional mandatory take-over 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 5 pm on February 2, unless extended or revised with an announcement to be made by Maybank IB two days prior to the closing date.
On December 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.
The 13.88 per cent stake was bought from the Retirement Fund (Incorporated) (6.1 per cent) and Urusharta Jamaah Sdn Bhd (7.78 per cent).
FGV shares slipped 0.01 sen to RM1.28 at midday today.
— Bernama
