Kuala Lumpur: The Federal Land Development Authority (Felda) today announced the dispatch of offer documents for its plan to privatise FGV Holdings Bhd, with the offer set to close at 5 pm on Monday, July 7, 2025, unless an extension is granted.

According to BERNAMA News Agency, Felda stated in a Bursa Malaysia filing that the offer, facilitated through Maybank Investment Bank, will remain open for acceptance until the initial closing date or a later date that Maybank may determine and announce on Felda’s behalf.

This offer is part of Felda’s unconditional voluntary takeover bid to purchase all remaining FGV shares at RM1.30 each. Despite holding a combined 82.34 percent stake via Felda and its subsidiary, Felda Holdings Company Sdn Bhd, the agency expressed its limited influence over FGV’s management due to not controlling the board.

Felda noted that successful privatisation would enable it to improve FGV Group’s operational and financial efficiencies by optimising its plantation operations. It is offering shareholders the opportunity to cash in their investments at a 9.91 percent premium over the six-month volume-weighted average market price of RM1.1828 as of the latest practicable date.

The current RM1.30 per share bid, launched on May 26, mirrors Felda’s previous unsuccessful 2020 privatisation attempt. That year, Felda initiated a mandatory takeover offer after raising its FGV stake from 33.66 percent by acquiring shares from Retirement Fund Inc (KWAP) and Urusharta Jamaah for RM658 million.

FGV, which entered the market in 2012 at RM4.55 per share, raised RM10.5 billion in one of Malaysia’s largest IPOs. However, its share price has since declined substantially, leading to repeated privatisation efforts.