MARKET DEVELOPMENT
Felda Global Venture Suspends Trading on Friday
Felda Global Venture Suspends Trading on Friday
12/06/2015 (The Star) - Trading in the shares of Felda Global Ventures Holdings Bhd would be voluntarily suspended from 9am to 5pm on Friday.
FGV, which is the world’s biggest crude palm oil (CPO) producer, said the suspension was pending a material announcement.
Its share price closed down six sen to RM1.86.
Bloomberg reported FGV was seeking a buyer for peripheral assets in North America. It has invited offers for its crushing and refining businesses in the US and Canada.
The report said suitors have submitted first-round bids for the operations, which could fetch about US$150mil.
Earlier this year, Felda said it would sell some assets as it seeks to increase its core palm oil plantation business, expand trading operations and develop new markets.
FGV, which is the world’s biggest crude palm oil (CPO) producer, said the suspension was pending a material announcement.
Its share price closed down six sen to RM1.86.
Bloomberg reported FGV was seeking a buyer for peripheral assets in North America. It has invited offers for its crushing and refining businesses in the US and Canada.
The report said suitors have submitted first-round bids for the operations, which could fetch about US$150mil.
Earlier this year, Felda said it would sell some assets as it seeks to increase its core palm oil plantation business, expand trading operations and develop new markets.