Felda (Malaysia)

Felda: newswires say Msia's state-controlled plantation firm is seeking to list on Bursa Msia on Jun 28, once it completes its >US$3b IPO. The co will launch its roadshow and start book building from May 31 until June 15, and is set to price the IPO on Jun 15. Felda plans to sell up to 2.19b shares, of which ~1.5b shares will be sold to institutional investors at an indicative price of up to RM 4.65 per share, while retail investors will be allotted shares at a lower price to be determined later. Felda accounts for ~18% of the country's total palm oil output, making it the biggest palm oil producer globally by plantation acreage. Felda owns 300k ha of the land it manages, and manages 500k ha on behalf of small holders who own the land.