Palm oil giant all set for record IPO

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Felda Holdings has a huge land bank for oil palm plantations in Malaysia and Indonesia

Malaysia’s Felda Global Ventures Holdings, the world’s third-largest palm oil company by acreage, is planning to raise $3.3 billion in an IPO on June 28 at the Malaysian stock exchange, reports say.

This would be the world’s second largest public share offering after Facebook went public earlier this year, rasing $16 billion. It also would place Kuala Lumpur on par with Shenzhen as the main IPO destination in Asia Pacific this year, overtaking Hong Kong.

The company on Wednesday, June 13, priced the IPO at RM4.55 a share, near the top of a RM4.00-RM4.65 indicative range. Felda is offering 2.19 billion shares. 1,1 billion shares will be sold to institutional investors such as the country’s biggest pension funds.

The plantation group manages estates for the Malaysian Federal Land Development Authority. It has about 356,000 hectares of plantations in Malaysia in addition to land in Indonesia. The company also has palm oil refining businesses in China, Indonesia, Turkey and South Africa.

The IPO is Malaysia’s biggest since Petronas Chemical Group raised a record RM12.8 billion in 2010, according to Bloomberg.

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Reading Time: 1 minute

Felda Holdings has a huge land bank for oil palm plantations in Malaysia and Indonesia

Malaysia’s Felda Global Ventures Holdings, the world’s third-largest palm oil company by acreage, is planning to raise $3.3 billion in an IPO on June 28 at the Malaysian stock exchange, reports say.

Reading Time: 1 minute

Felda Holdings has a huge land bank for oil palm plantations in Malaysia and Indonesia

Malaysia’s Felda Global Ventures Holdings, the world’s third-largest palm oil company by acreage, is planning to raise $3.3 billion in an IPO on June 28 at the Malaysian stock exchange, reports say.

This would be the world’s second largest public share offering after Facebook went public earlier this year, rasing $16 billion. It also would place Kuala Lumpur on par with Shenzhen as the main IPO destination in Asia Pacific this year, overtaking Hong Kong.

The company on Wednesday, June 13, priced the IPO at RM4.55 a share, near the top of a RM4.00-RM4.65 indicative range. Felda is offering 2.19 billion shares. 1,1 billion shares will be sold to institutional investors such as the country’s biggest pension funds.

The plantation group manages estates for the Malaysian Federal Land Development Authority. It has about 356,000 hectares of plantations in Malaysia in addition to land in Indonesia. The company also has palm oil refining businesses in China, Indonesia, Turkey and South Africa.

The IPO is Malaysia’s biggest since Petronas Chemical Group raised a record RM12.8 billion in 2010, according to Bloomberg.

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