Felda Global Ventures Holdings Berhad in One of the World’s Largest IPOs in 2012

Cleary Gottlieb represented Felda Global Ventures Holdings Berhad (FGVH) and the selling shareholder, Federal Land Development Authority (FELDA), in FGVH’s Ringgit Malaysia 9.9 billion (approximately $3.2 billion) initial public offering, one of the world’s largest initial public offerings in 2012.

CIMB Investment Bank Berhad, Maybank Investment Bank Berhad and Morgan Stanley & Co. International plc acted as joint global coordinators. The shares were sold through a registered public offering in Malaysia and through a Rule 144A/Regulation S offering outside Malaysia. The deal priced on June 18, closed on June 26 and the shares were listed on the Main Market of Bursa Malaysia Securities Berhad on June 28.

FGVH is a global agricultural and agri-commodities company based in Malaysia, with operations across ten countries, and is the third largest oil palm plantation operator in the world based on planted hectarage. FGVH is engaged in the production and sale of oil palm and rubber plantation products, soybean and canola products, oleochemicals and refined sugar products.

FGVH was incorporated as the commercial arm of FELDA for overseas investments in the upstream and downstream palm oil business and other agribusinesses. FELDA was formed in 1956 to alleviate rural poverty in Malaysia through the development of plantation land cultivated by settlers.