KINIGUIDE | After more than a decade of being listed on Bursa Malaysia, FGV Holdings Berhad (FGV) is now undergoing the process of delisting.

This follows the Federal Land Development Authority (Felda)’s unconditional voluntary takeover offer to acquire all remaining shares in FGV that it does not already own, at RM1.30 per share.

The primary objective of the offer is to increase Felda’s ownership beyond 90 percent, thereby facilitating the delisting of FGV from Bursa Malaysia’s Main Market.

This marks Felda’s second major attempt to take over FGV, after a similar offer in 2020 - also priced at RM1.30 per share - failed.