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KUALA LUMPUR: Felda Land Development Authority (Felda) has purchased 22 million shares of FGV Holdings Bhd on the open market for RM28.38 million.
In a statement today, Maybank Investment Bank Bhd (Maybank IB), the main advisor to Felda on its offer to take over FGV shares, said the shares were purchased at RM1.29 each.
On January 12, Felda issued an offering document in relation to its unconditional mandatory takeover offer for all remaining FGV shares that it does not own, except treasury shares.
Your offer of RM1.30 per share will be open for acceptance until 5pm on February 2, unless it is expanded or revised with an announcement to be made by Maybank IB two days before the closing date.
On December 8, Felda, which already had a 21.24% stake in FGV, increased its stake in the company to 35.12% and proposed taking FGV privately at RM 1.30 per share.
The additional 13.88% stake was purchased from the Retirement Fund (Incorporated) (6.1%) and Urusharta Jamaah Sdn Bhd (7.78%).
Shares of FGV fell 0.01 sen to RM1.28 at noon today.
