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«AgroInvest» — News — Felda IPO more than 15 times covered among institutions

Felda IPO more than 15 times covered among institutions

2012-06-08 11:15:47

Felda Global Ventures Holdings, Malaysia's largest plantation company, drew orders from institutional investors for more than 15 times the stock available to them in its US$3.2 billion (S$4 billion) initial public offering (IPO), two people with knowledge of the matter said.

Up to 10 per cent of the firm's enlarged share capital, or 365 million shares worth an estimated US$500 million, is available to fund managers, one source said.

Felda Global is selling shares in Kuala Lumpur in the second-largest IPO this year after Facebook.

Final pricing of the IPO is expected to take place on June 13 after an international marketing trip is completed, according to Felda Global's listing prospectus.

The company is seeking RM4 (S$1.60) to RM4.65 per share, earlier reports said.

 

TODAY