Felda

Felda: The first setback for Felda's IPO is news that Louis Dreyfus, which was supposed to take a 2.5% stake, did not do so by a mid-June deadline. Talks were continuing which could see Dreyfus take a smaller stake or possibly none. While the reduction/no-show of the investment stake will not derail the IPO, Louis Dreyfus is a prominent investor enough to warrant some worry, particularly since its expertise is in commodities.