KUALA LUMPUR: FGV Holdings Bhd will be delisted from Bursa Malaysia on Thursday, marking the completion of the Federal Land Development Authority’s (Felda) years-long bid to take the plantation giant private.
In a filing with Bursa Malaysia today, FGV said its entire issued share capital will be removed from the exchange’s official list with effect from 9am on Aug 28.
This comes after Felda secured a 94.97 per cent stake in FGV at the close of its unconditional takeover offer on Aug 15, triggering a suspension in trading of the counter on Aug 22.
Felda subsequently served notice to dissenting shareholders, giving them until Jan 15, 2026 to require the state agency to purchase their remaining shares at RM1.30 each.
FGV, once billed as one of the world’s largest palm oil initial public offerings when it listed in 2012, now returns fully to Felda’s control.
Prime Minister Datuk Seri Anwar Ibrahim has said the agency will restructure the company to prioritise the interests of Felda settlers.
The delisting also closes a turbulent chapter for FGV, which has faced a United States import ban since 2020 over alleged forced labour practices, according to Reuters.
© New Straits Times Press (M) Bhd
