KUALA LUMPUR (Aug 18): FGV Holdings Bhd (KL:FGV) said the trading of its shares will be suspended, effective next Monday (Aug 25), following the Federal Land Development Authority’s (Felda) successful takeover bid.
In a filing with the bourse on Monday (Aug 18), FGV said trading would be suspended from 9am on Aug 25. An application has also been submitted to Bursa Securities for the withdrawal of FGV’s listing status, the company said in a separate filing.
Felda's takeover offer closed with 3.46 billion shares, giving it a 94.97% stake in FGV last Friday (Aug 15). Since Felda and its partners (PACs) had already passed the 90% mark by July 29, FGV is now set to be delisted from Bursa Malaysia’s Main Market.
Felda’s wholly owned subsidiary, Felda Asset Holdings Company Sdn Bhd, took the lead in the takeover offer, together with the Pahang state government. Other PACs include Koperasi Kakitangan Felda Malaysia Bhd (Felkop) — whose board consists of Felda management, as well as Sulong Jamil Mohamed Shariff and his wife Salina Samsudin.
Felda launched its privatisation bid for FGV on May 26, offering RM1.30 per FGV share — the same price as its failed 2020 bid, but below an independent adviser’s estimated fair value of RM1.83-RM1.99 for its shares. This move came after Bursa rejected FGV’s request in March 2025 to fix its low public shareholding, which has been below 25% since February 2021.
FGV was listed in 2012 at RM4.55 per share, raising RM10.5 billion in one of the biggest initial public offerings (IPOs) that year. The stock has lost about two-thirds of its IPO value.
At 10.30am on Monday, FGV's share price was traded unchanged at RM1.30, valuing the group at RM4.74 billion.