The
share price of plantation giant Felda Global Ventures Holdings Bhd
(FGV) was today traded below the issuing price of RM4.55 for the first
time ever.
Its share price opened at RM4.60 this morning but dropped to RM4.53 at 10.46am before rebounding back.
At the 12.30pm break, the last traded price was RM4.57.
The latest dip in share price is likely to become fodder for those who oppose FGV's listing exercise.
The federal government had been adamant on the listing despite the protests, claiming that it will improve the welfare of 112,000 Federal Land Authority (Felda) scheme land settlers.
Felda settlers advocacy group Anak claim that settlers were required to borrow money in order 800 FGV shares at RM4.45 and will suffer losses if the share price falls below RM4.70.
The company's initial public offering institutional price was RM4.55, while its retail price was RM4.45.
After the much fanfare, FGV made its Bursa Malaysia debut on June 28 and peaked at RM5.55 on July 5, before a steady downward slide.
Felda chairperson Mohd Isa Abdul Samad said this was no cause for concern for settlers and things will work out in a few months time.
The disappointing performance is mainly due to concerns over weak earnings from plantation companies.
Its share price opened at RM4.60 this morning but dropped to RM4.53 at 10.46am before rebounding back.
At the 12.30pm break, the last traded price was RM4.57.
The latest dip in share price is likely to become fodder for those who oppose FGV's listing exercise.
The federal government had been adamant on the listing despite the protests, claiming that it will improve the welfare of 112,000 Federal Land Authority (Felda) scheme land settlers.
Felda settlers advocacy group Anak claim that settlers were required to borrow money in order 800 FGV shares at RM4.45 and will suffer losses if the share price falls below RM4.70.
The company's initial public offering institutional price was RM4.55, while its retail price was RM4.45.
After the much fanfare, FGV made its Bursa Malaysia debut on June 28 and peaked at RM5.55 on July 5, before a steady downward slide.
Felda chairperson Mohd Isa Abdul Samad said this was no cause for concern for settlers and things will work out in a few months time.
The disappointing performance is mainly due to concerns over weak earnings from plantation companies.
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