Thursday, June 14, 2012

IPO of Malaysia palm oil giant Felda in hot demand

KUALA LUMPUR (AFP) - Palm oil giant Felda Global Ventures Holdings' IPO has been massively oversubscribed amid hot demand for the world's second-biggest listing this year after Facebook.
The institutional portion of the initial public offering has been oversubscribed by more than 30 times, Dow Jones Newswires reported Tuesday. The share sale is expected to raise more than 10 billion ringgit.

Felda Global issued a price range of 4.00-4.65 ringgit per share for the sale of 2.19 billion shares, it said. Institutional subscription will close on Wednesday and an announcement on the pricing is expected to be made later in the day.
The Malaysian government is floating Felda Global in a bid to turn it into a global commodities player, part of a larger push to divest state-run firms.

I'm still virgin