WSJ: Felda selling part of Maybank stake to raise RM280m
Federal Land Development Authority (Felda) is selling part of its stake in Maybank to raise up to RM280 million, The Wall Street Journal reported.
It is offering to sell its Maybank shares for between RM8 and RM8.05 per share, the daily reported. Maybank's shares closed at RM8.05 yesterday.
CIMB Investment Bank is the sole book-runner of the deal, according to a term sheet sighted by the financial daily.
Federal Land Development Authority (Felda) is selling part of its stake in Maybank to raise up to RM280 million, The Wall Street Journal reported.
It is offering to sell its Maybank shares for between RM8 and RM8.05 per share, the daily reported. Maybank's shares closed at RM8.05 yesterday.
CIMB Investment Bank is the sole book-runner of the deal, according to a term sheet sighted by the financial daily.
Felda is the fourth-largest Maybank shareholder, holding a 1.82 percent stake or 185.15 million shares.
This came amid Felda's controversial purchase of a 37 percent stake in Indonesian plantation firm Eagle High Plantations, which critics, including CIMB chairperson Nazir Abdul Razak, said was overpriced.
The development also came as Felda denied speculation that it would delist Felda Global Ventures.
Felda chairperson Shahrir Samad is expected to call a press conference on this today, The Star reported.
