Palm oil giant all set for record IPO

Palm oil giant all set for record IPO
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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[caption id="attachment_3400" align="alignleft" width="240" caption="Felda Holdings has a huge land bank for oil palm plantations in Malaysia and Indonesia"][/caption] 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,...

Palm oil giant all set for record IPO
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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00

 

 

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