Monday, November 12, 2012

Finally, FGV share price drops below IPO price

Nov 12: Share price for Felda Global Venture Holding marked its historic low today as it briefly dipped below its initial public offering price of RM4.55 today, hitting RM4.53, the lowest point to date, before easing to RM4.57 at noon.

The dip is lower than the RM4.57 recorded on September 11 on inter-day trading, which then rebounded within four days to RM4.95.

However, since then, FGV shares have been on downward trend again, shedding RM0.35 to RM4.60 as of last Friday.

Felda settlers have been forced to take up loans to obtain the 800 shares, which the government said were 'gift' for settlers alongside the RM15,000 'windfall' in the wake of FGV's controversial listing.

National Felda Settlers’ Children Association (ANAK) has claimed that settlers would suffer losses if share price fell below RM4.70.

The company's initial public offering institutional price was RM4.55, while its retail price was RM4.45.

Felda chairman Isa Samad has been insisting that the fall was temporary due to the drop in global oil palm commodity prices.

1 comment:

  1. The fgv share price is headed south with no sight of the end of the tunnel.
    All those holding the shares are net losers except those free loaders.


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