Felda Global Ventures (FGV)


FELDA

FELDA Global Ventures Holdings (FGVH) was one of the most wanted IPO in 2012.

The demand for the IPO was very good. We can see that, the  institutional portion of the initial public offering has been  oversubscribed by 45 times. On the retails front, it was oversubscribed by 6.75 times.

For those who lucky enough to get the IPO or want to buy FGVH shares from the open market, you may want to look at target price / fair value.

Research houses give early target or fair prices for FGVH ahead of the listing date of 28th June 2012. Most of them generally targeted higher than IPO subscription prices & all of them aim higher than RM5.00. For comparison, the IPO price is RM4.45 for retail investors and RM4.55 for the institutional investors.

In average, the target price is approximately 24 percent higher than the IPO price. The table below is the compilation of target price / fair value from various research houses.

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FELDA

FELDA Global Ventures Holdings Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 72.96 million shares. It was oversubscribed by 6.75 times. The IPO attract 58,526 applications or 565.4 million shares.

The Institutional Price was fixed at RM4.55 per Offer Share. Accordingly, the Final IPO Price for the Retail Offering is fixed at RM4.45 per Offer Share. The RM0.10 per Share difference will be refunded within 10 market days.

The IPO allocate 72.96 million shares for public. Of these, 36.48 million shares were allocated for Bumiputera category while 36.48 million shares were allocated for Malaysian Public category.

Below are the allotment summary for public portion.

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FELDA

FELDA Global Ventures Holdings Bhd, a plantation operator, downstream products and refined sugar produce is scheduled to be listed in Main Market of Bursa Malaysia on 28th June 2012.

The Initial Public Offering (IPO) consists of 1.92 billion shares will be offered to the institutional investors while the remaining 283.61 million shares will be offered to retail investors at a price of RM4.55 per share at RM1.00 par value.

The final price will be the lower of retail price and 98% of the institutional price. There will be a refund to the difference if the final retail price is less than the retail price.

The institutional offering involves a total of 1.21 billion shares and 286.85 million issue shares allocated for Malaysian and foreign institutional investors, while 419.54 million issue shares are set aside for Bumiputera institutional and selected investors approved by International Trade and Industry Ministry, at the institutional price.

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FELDA

The US$2bil (RM6.08bil) listing of Felda Global Ventures Holdings Bhd to a Main Market listing on Bursa Malaysia, Asia’s biggest this year, is expected to take place at the end of June. The initial public offering (IPO) is offering up to 2.19 billion shares for institutional and retail investors.

According to the draft prospectus posted on the Securities Commission website, 1.92 billion shares will be offered to the institutional investors while the remaining 283.61 million shares will be offered to retail investors.

The institutional offering involves a total of 1.21 billion shares and 286.85 million issue shares allocated for Malaysian and foreign institutional investors, while 419.54 million issue shares are set aside for Bumiputera institutional and selected investors approved by International Trade and Industry Ministry, at the institutional price.

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