The initial public offering (IPO) of Felda Global Venture Holdings Bhd (FGVH) is going through the usual regulatory process and nothing has been finalised yet.

In a statement today, Felda group chairperson Mohd Isa Abdul Samad said the prospectus was recently submitted to the Securities Commission for approval.

"I strongly urge all parties not to make statements or speculations that may prejudice this approval process.

"I am sure the FGVH management will make the necessary disclosure in due course as and when approvals are obtained from the authorities concerned," he said.

In a recent report, Deputy Minister in the Prime Minister's Department, Ahmad Maslan, said FGVH's market capitalisation was expected to touch RM21 billion upon its listing on Bursa Malaysia's main board, slated to be on May 10.

The current market capitalisation of Felda's commercial arm is RM3 billion.

- Bernama