Felda Global Ventures shares for institutions oversubscribed more than 15 times

As much as 10% of the palm oil and rubber producer’s enlarged share capital, or 365 million shares worth an estimated US$500mil (RM1.6bil)

KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGVH), Malaysia's biggest plantations company, drew orders from institutional investors for more than 15 times the stock available to them in its US$3.2bil (RM10bil) initial public offering (IPO), two people with knowledge of the matter said.

As much as 10% of the palm oil and rubber producer's enlarged share capital, or 365 million shares worth an estimated US$500mil (RM1.6bil), was available to fund managers, said one of the people.

They declined to be identified as the information is private. FGVH is selling shares in Kuala Lumpur in the second-biggest IPO this year after Facebook Inc.

While the slice allotted to institutions is smaller than in similar IPOs in Singapore and Hong Kong, optimism about South-East Asia's economic prospects has also fuelled demand for FGVH's sale.

Companies including Graff Diamond Corp have scrapped IPOs in the past two weeks as Europe's economic turmoil sapped demand for new equity worldwide.

“While other countries will pull their IPOs, Malaysia goes on,” said Abdul Jalil Abdul Rasheed, who helps manage US$3bil as chief executive officer at Kuala Lumpur-based Aberdeen Islamic Asset Management Sdn Bhd. “It's just a general excitement that there's something new and big in the market.”

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

The company was seeking RM4 to RM4.65 per share, two people familiar with the matter said on May 31. - Bloomberg

the BBs would be interesting as armada's BBs?

kppl80 wrote:the BBs would be interesting as armada's BBs?

bbalso out same time with mom? or slightly later?

maxims wrote:

kppl80 wrote:the BBs would be interesting as armada's BBs?

bbalso out same time with mom? or slightly later?

cash warrants for armada was as fast as a week after IPO...

kppl80 wrote:the BBs would be interesting as armada's BBs?

these day no free lunch d
the mm will q at fair price...ard 20% prem
i miss the days when they let it open at 15c n let retailer gap it up n goreng it

at the same time banks are very competitive these days everytime a good mother share so many warrants come together jcy for example.....
skpetro.....haih if one only good lor

every issueing bank wants the piece of the warrant pie, only now we need more warrant volume/player

its like many million dollar homes , but not many millionaires

then we must encourage more people to play BBs to even out the demand vs supply

kppl80 wrote:then we must encourage more people to play BBs to even out the demand vs supply

indeed that is optimal

:D
lets start spreading muahaahhahaha

euro going on.....sure market slow bit....people login to different platform now

i believe ECM can track warrant volume if not mistaken

some information for you reading pleasure

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i hate reading

no need read ler , its info on warrant top vol pre etc etc

kppl80 wrote:euro going on.....sure market slow bit....people login to different platform now

buy beer counters
tobacco.........
nestle

open d good data thanks

phoenix777 wrote:

kppl80 wrote:euro going on.....sure market slow bit....people login to different platform now

buy beer counters
tobacco.........
nestle

goods n services sure hoosey

ppl need to eat and be merry