FGVH to identify strategic partner soon, says Isa Samad
BernamaPublished: May 9, 2012 10:34 AM | Updated: May 9, 2012 10:35 AM
Felda Global Ventures Holdings Bhd (FGVH), which is en route for listing at the end of June, is currently reviewing several foreign companies to be its strategic partner to provide business synergy to the group, particularly in downstream activities.
Felda Global Ventures Holdings Bhd (FGVH), which is en route for listing at the end of June, is currently reviewing several foreign companies to be its strategic partner to provide business synergy to the group, particularly in downstream activities.
Federal Land Development Authority (Felda) chairperson Mohd Isa Samad said talks have been held in the United Kingdom, Hong Kong, Qatar and a few other countries, and the strategic partner will be identified in one or two weeks.
“We want a strategic partner that can help strengthen our business especially those who are involved in downstream activities and agricultural businesses,” he told reporters after the launch of new consumer products by its subsidiary Delima Oil Products Sdn Bhd in Kuala Lumpur today.
Meanwhile, Felda Global Ventures Holdings Group president and chief executive officer Sabri Ahmad said the strategic partner would be invited to have less than five percent of the company’s equity.
Sabri said downstream activities currently contribute less than 10 percent to the group’s profits.
As for cornerstone investors, three to four big institutional investors will be announced at the prospectus launch by the end of this month, he added.
It was reported recently that FGVH is offering up to 2.19 billion shares, comprising 980 million new ordinary shares for public issue and 1.209 billion ordinary shares for sale, and at RM4.65 a share, the exercise would raise about RM10.18 billion, making it the world’s second biggest offering this year after Facebook Inc.
- Bernama
Federal Land Development Authority (Felda) chairperson Mohd Isa Samad said talks have been held in the United Kingdom, Hong Kong, Qatar and a few other countries, and the strategic partner will be identified in one or two weeks. “We want a strategic partner that can help strengthen our business especially those who are involved in downstream activities and agricultural businesses,” he told reporters after the launch of new consumer products by its subsidiary Delima Oil Products Sdn Bhd in Kuala Lumpur today.
Meanwhile, Felda Global Ventures Holdings Group president and chief executive officer Sabri Ahmad said the strategic partner would be invited to have less than five percent of the company’s equity.
Sabri said downstream activities currently contribute less than 10 percent to the group’s profits.
As for cornerstone investors, three to four big institutional investors will be announced at the prospectus launch by the end of this month, he added.
It was reported recently that FGVH is offering up to 2.19 billion shares, comprising 980 million new ordinary shares for public issue and 1.209 billion ordinary shares for sale, and at RM4.65 a share, the exercise would raise about RM10.18 billion, making it the world’s second biggest offering this year after Facebook Inc.
- Bernama
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