Kuala lumpur: The Federal Land Development Authority (Felda) has received valid acceptances for all the remaining ordinary shares in FGV Holdings Bhd and has acquired the offer shares representing 91.73 per cent of the total issued shares of FGV as of 5 pm.

According to BERNAMA News Agency, FGV stated in a filing with Bursa Malaysia that Felda holds more than 90 per cent of its shares and does not intend to maintain FGV’s listing status on the Main Market of Bursa Securities. It added that this offer is still open for acceptance until 5 pm on August 15, 2025, and Felda encourages all shareholders who have not yet accepted the offer to do so before the deadline expires.

FGV further noted that Bursa Securities will suspend the trading of the FGV shares immediately upon the expiry of five market days from the final closing date, in accordance with subparagraph 16.02(3) of the Listing Requirements.

In 2020, Felda triggered a mandatory takeover offer after increasing its stake in FGV from 33.66 per cent by acquiring shares from Retirement Fund Inc (KWAP) and Urusharta Jamaah for RM658 million. FGV, which made its debut in 2012 at RM4.55 a share, raised RM10.5 billion in one of Malaysia’s largest initial public offerings. Its share price has since declined significantly, prompting repeated privatisation efforts.

Felda stated that the acquisition of FGV shares not only paves the way towards a more sustainable and focused Felda Group, but also aligns with Felda’s aspirations in achieving the Felda Group’s Strategic Plan and Direction 2025-2030. “This effort is believed to enhance competitiveness and guarantee long-term returns to settlers and all stakeholders,” it added.