FGV Pauses Trading, ICT Zone's ACE Transfer On June 3 - Bursa

KUALA LUMPUR, May 26 (Bernama) -- Bursa Malaysia Securities Bhd has approved FGV Holdings Bhd’s request for suspension in the trading of its shares with effect Monday, May 26 from 9 am to 5 pm, pending the release of a material announcement.

In a filing with Bursa Malaysia today, FGV said the request for suspension is made under subparagraph 3.1(b) of Practice Note 2 on Requests for Suspension of the Main Market Listing Requirements of Bursa Securities.

FGV’s last traded share price was RM1.28, valuing the company at RM4.7 billion.

Last Friday, FGV announced that it will acquire full ownership of eight subsidiaries via share purchases totalling RM229.75 million from Koperasi Permodalan Felda Malaysia Bhd (KPF), to streamline its business operations and facilitate faster decision-making, which better aligns with the group’s strategic direction.

Meanwhile, in a separate filing, ICT Zone Asia Bhd said its shares will be suspended from trading on the LEAP Market of Bursa Malaysia Securities beginning May 28, from 9 am, in accordance with Rule 8.02(1) of the LEAP Market Listing Requirements (LEAP LR).

Following the suspension, the entire issued share capital of ICT Zone will be officially removed from the LEAP Market on June 3 at 9 am, pursuant to Rules 8.05 and 8.06 of the LEAP LR, to facilitate the transfer of the entire issued shares of ICT Zone from the LEAP Market to the ACE Market.

ICT Zone previously reported that its initial public offering has been oversubscribed by 1.89 times by public investors, ahead of its ACE Market listing on June 3, which offered 154 million shares in total, comprising 133 million new shares and an offer for sale of 21 million shares.

-- BERNAMA